Top 5 Charts of the Day – November 13th 2020
"Inflows to US equities jumped to $33.30bn, the second highest
weekly reading on record" – BofA pic.twitter.com/a5uTJUD8Yf— zerohedge (@zerohedge) November 13, 2020
Big money chasing Stock ETFs this week…$SPY took in +$10B, pushing 1M inflows over +$15B, very stretched short-term.
Context matters though – sellers dominated all year… and SPY still lost -$20B YTD even *with* this buying.
Glass half full? Time will tell… HAGW! pic.twitter.com/mIMUL34g0Z
— Macro Charts (@MacroCharts) November 13, 2020
There have been 17 weeks with bigly jumps in optimism among mom-and-pop survey-takers + ETF traders.
If you used this kind of thing to short stocks and hold for a few months, you would have won about 18% of the time.
But hey, you nailed the peak in 2007! pic.twitter.com/FUDBqaIDu0
— SentimenTrader (@sentimentrader) November 13, 2020
Risk parity exhaustion.
Junk bonds and stocks are record overvalued in tandem for the first time in history.
Why not buy a cheap asset that truly benefits from artificially low rates?
Precious metals to become a key alternative for asset allocators.
Buy gold and sell stocks. pic.twitter.com/YATnTZkX1c
— Otavio (Tavi) Costa (@TaviCosta) November 13, 2020
#DailyDataPoint: Alternative data show economic activity crashes – particularly in Europe – as the virus resurges (via @RoyeBjorn & @TomOrlik) https://t.co/CSqmZ0QXmM pic.twitter.com/DClGZODOPf
— Bloomberg Economics (@economics) November 13, 2020