Today's topics include financial conditions, inflation expectations as a central bank policy tool, price controls, gauging the odds of a recession, an intermission in the bear market?, the LME faces lawsuit over nickel trading, rising tax revenues, and passive funds hold larger share of U.S. stock market, going to fintech
Today's slight beat did little to change traders' minds about how aggressive the Fed will be in its fight against inflation. Good economic news continues to be bad news for risk markets.
Today's topics include Fink makes long term inflation call, a super bad feeling, what will the recession look like?, consumers losing through prices, food prices, CFOs looking ahead, Chinese equities back in favor, hedge funds struggle, is private equity a ponzi?, and the work-from-home fat-finger trade
56% of households owning mutual funds make more than $100k per year.
Active equity funds continue to charge 10x the fees of passive equity funds.
Domestic equity index funds with the lowest fees saw the large majority of inflows in 2021.
Over a third of U.S. households own an IRA. The difference in ownership between the highest and lowest income buckets is staggering.
Equity ETFs accounted for 25% of stock market volume in the U.S. in 2021.
A look at the holdings of government-only money market funds versus prime money market funds
A long-term look at CPI