Tech cools, retail rages and some madness

Hot stuff not so hot

The AI proxy, NYFANG, has been the hottest stuff around in 2023. It closed below the 21 day moving average today, by a margin not seen since late April. 50 day is still way lower...

Source: Refinitiv

Massive tech inflows

Source: BofA

Retail - back with a vengeance

Source: GS

Not a typo

Source: Soc Gen

Source: Soc Gen

The madness chart of the day

Source: Soc Gen

Main street vs Wall street

Source: GS

Everybody up

Source: Bloomberg/Authers

Never forget: lower liquidity

The last hike

Source: Goldman

Source: Goldman

EM showing the way

Source: BofA