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- DC Lite #446
DC Lite #446
"The IPO market logged the busiest week since 2021 this month"
Welcome back to DC Lite: Daily Chartbook’s free, entry-level newsletter containing 5 of the day’s best charts & insights.
1. QE distortion. "QE is the Fed directly growing the monetary base, complicit with a rising Federal deficit, and then holding the base (reserves) at the Fed by paying interest. This inflates financial assets but not real growth."
2. IPO activity. "The IPO market logged the busiest week since 2021 this month, with a sextet of deals raising more than $4 billion amid optimism over the prospect of a Federal Reserve interest-rate cut."
3. Levered single stock ETFs. "This chart is getting out of hand."
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4. Retail favorites. "A Goldman Sachs basket of stocks widely held by the retail community is going straight up and to the right, poised for a record tenth straight day of gains. It’s up 13% over this stretch."
5. AI vs. non-AI margins. Without “the robust growth from AI, S&P 500 would be much less exceptional both in terms of performance and growth.”
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