S&P 500

From Eric Peters, CIO of One River Asset Management, here is a topical anecdote, as well as a review of the key events in the past week.

Weekend Notes

“Where’s the beef?” bellowed Biggie Too. “Health care, regulation reform, tax cuts – where’s it at?” continued the Chief Global Strategist for one of those too big to fail affairs.

“You boys were always gonna face this moment,” barked Biggie, sliding into a slow groove.

With both JPM and Goldman having warned for months that the market is far too sanguine about the implementation (and effectiveness) of Trump's proposed domestic fiscal policies, Friday's events were a rude awakening for some, and framed how contentious the passage of any stimulus measures by the new president - one who as the WSJ writes this morning is realizing he misses a governing coalition - will be.

Authored by Jeffrey Snider via Alhambra Investment Partners,

Authored by Lance Roberts via RealInvestmentAdvice.com,

In this past weekend’s missive I wrote:

“Speaking of low volatility, the market has now gone 108-trading days without a drop of 1% for both the Dow and the S&P 500. This is the longest stretch since September of 1993 for the Dow and December of 1995 for the S&P 500.

 

The latest evidence that rumors of Trumpflation trade's death are not greatly exagerated came overnight from Bank of America which reported that based equity funds saw net outflows of $8.9 billion, the largest in 38 weeks. The most impacted sector was, not surprisingly, banks - the biggest beneficiary of the post-Trump election victory rally, which suffered the biggest outflows in over a year.