Macro Monkey Says
Time for a Check Up
If fireworks, hotdogs, gallons of beer, and a whole lotta freedom weren’t enough to get you fired up this 4th of July, maybe this will.
The great thing about the 4th is that it comes basically right at the midpoint of the year. Naturally, with all attention on the Red, White, & Blue anyway, this gives us a great chance to take a beat and reflect on exactly what the hell is going on.
Spoiler alert: It’s going pretty not-terrible, mostly. In large part, economic and financial market data YTD has been, if anything, a surprise to the upside. Specifically, let’s take a look at…
Equity Markets have been on an absolute tear, with the Nasdaq seeing its hottest start to a year since 1983. That means the index has been outpacing even dot-com year numbers—and please, take that as you will.
Meanwhile, the S&P is pushing around double its lifetime average annual return, sitting above 16.5% YTD.
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