The S&P 500 may have hit a new ATH today at 4,277 points, +13.8% YTD, but if you put the index i

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The S&P 500 may have hit a new ATH today at 4,277 points, +13.8% YTD, but if you put the index in relation to Fed's balance sheet, it is trading at the same level as in 2008, so equities have traded sideways since 2008, basically counteracting balance sheet expansion. h/t Holger Zschaepitz

The S&P 500 may have hit a new ATH today at 4,277 points, +13.8% YTD, but if you put the index i

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