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Macro Nugget: Earnings and market cap going hand in hand

Fiscal expansion, QE and ZIRP the mother of all stimuli for US large cap?
2024-07-10

Yesterday we honed in on the market concentration of SPX and how fewer and fewer companies are carrying the index. Thoughts naturally turn to the dot-com bubble which had similar concentration, but this time around a key difference is that large caps are seeing their earnings inflate along with their market capitalization as opposed to the early 2000s. 

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