Fed balance sheet expansion is responsible for 51% of the SPX returns

It’s all about liquidity.

According to BofA $Bank of America(BAC)$ , Fed balance sheet expansion is responsible for 51% of the SPX $S&P 500(.SPX)$ returns since the GFC, by far the biggest driver of returns.

Earnings account for 23%, and multiple expansion most of the remaining. $Invesco QQQ Trust(QQQ)$ $DJIA(.DJI)$

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According to GS Prime data, hedge fund net exposure remains near 5 year lows and has not moved meaningfully in the last 4 months.

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https://twitter.com/Marlin_Capital/status/1641417917999767553

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  • MojoStellar
    ·2023-04-01
    thanks for sharing
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  • 88wlam88
    ·2023-03-31
    Thanks for sharing
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  • SiFu
    ·2023-03-31
    thanks for sharing
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  • ramondk
    ·2023-03-31
    Good information
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  • nerdbull1669
    ·2023-03-31
    thanks for sharing
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  • boo1234
    ·2023-04-02
    go
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  • TeoHY
    ·2023-04-02
    Ok
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  • phantom74
    ·2023-04-02
    ok
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  • ekwee75
    ·2023-04-02
    [Happy]
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  • 雨后就是彩虹
    ·2023-04-01
    OK
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  • MarketWizard
    ·2023-03-31
    thanks
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  • blankblank
    ·2023-03-31
    K
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  • klimkh
    ·2023-03-31
    ok
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  • MBE
    ·2023-03-31
    Ok
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  • Boonie77
    ·2023-03-31
    ok
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  • Steventeo
    ·2023-03-31
    ok
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  • Nick K
    ·2023-03-31
    good
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  • aozora
    ·2023-03-31
    Ik
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  • Sweatheart
    ·2023-03-31
    [Smile]
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  • Tigress02
    ·2023-03-31
    🌷❤️
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