AAIIBEAR Index “Da Bears” just logged a reading of sub 22.00, the lowest reading since January 2nd. The Bulls logged their longest euphoria reading since January 2018. Euphoria is high.
GS Tactical Fund Flows 2021 - some interesting tidbits:
We are set up to see a massive wave of inflows [in 2021]. The “January Effect” will be exceptionally strong this year. Investors are looking to buy the dips, but they remain shallow as there is competition for dip alpha.
AAIIBEAR Index “Da Bears” just logged a reading of sub 22.00, the lowest reading since January 2nd. The Bulls logged their longest euphoria reading since January 2018. Euphoria is high.
This flow of funds shift will get exacerbated this year given the heavy positioning in money markets and bonds, aka TINA, or lack of alternatives.
US Investment grade corporate bond yields are at their all-time low of 1.8%, less than what 10-year US Treasuries were yielding earlier this year.
There are currently 49M accounts now open for online brokerage, a jump of 13M in 2020. DARTs, the common metric for retail activity hit a record of 10M trades/day earlier this year.
Systematic Unemotional Mechanical equity demand is in the market and will accelerate once the volatility premium is taken out of Georgia. Georgia can be another clearing event for investors.
GS Systematic strats team estimates +$19B worth of equity CTA demand over the next 1-month assuming a flat market tape.
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1/OK, data mystery time.
This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE
That's weird. Income inequality in China is legendary.
Let's check this number.
2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".
The report is available here:
3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.
The graph cites the World Development Indicators as its source for the income inequality data.
4/The World Development Indicators are available at the World Bank's website.
Here's the Gini index: https://t.co/MvylQzpX6A
It looks as if the latest estimate for China's Gini is 42.2.
That estimate is from 2012.
5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.
I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.
This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE
That's weird. Income inequality in China is legendary.
Let's check this number.
2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".
The report is available here:
3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.
The graph cites the World Development Indicators as its source for the income inequality data.
4/The World Development Indicators are available at the World Bank's website.
Here's the Gini index: https://t.co/MvylQzpX6A
It looks as if the latest estimate for China's Gini is 42.2.
That estimate is from 2012.
5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.
I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.
