The Daily Shot Brief – January 14th, 2020



Equities: The S&P 500 is becoming increasingly concentrated. The market capitalization share of the top five companies is at multi-decade highs. At the same time, these top firms’ percentage of net income is lagging the gains in market value.

Source: Morgan Stanley Research, @markets; Read full article


Share buyback activity, which bolstered performance over the past couple of years, has been fading.

Source: Deutsche Bank Research


Alternatives: Here is the relative growth in private vs. public equity markets this century.

Source: @WSJ; Read full article


Additionally, we have the relative performance of global pre-IPO (privately held) shares trading in the secondary market. The second chart provides a comparison with the corresponding public markets.

Source: EQUIAM


Energy: Asian energy importers are most exposed to potential shipping disruptions in the Strait of Hormuz (two charts).

Source: @ritholtz, @bopinion; Read full article
Source: BCA Research


China: Exports surprised to the upside.

Source: The Daily Shot


Imports were robust as well.

Source: The Daily Shot


Here is China’s trade balance.

Source: The Daily Shot


Global Developments: Here is a forecast for this year’s GDP growth in advanced economies (from Oxford Economics).

Source: Oxford Economics


Food for Thought: Proposed spending announced by Democratic presidential campaigns:

Source: @WSJ; Read full article

Edited by Devon Lall

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