In 2025, “US equities underperformed the rest of the world by the largest margin since 2009.”
@thedailyshot.bsky.social
@thedailyshot.bsky.social
January 5, 2026 at 11:35 AM
In 2025, “US equities underperformed the rest of the world by the largest margin since 2009.”
@thedailyshot.bsky.social
@thedailyshot.bsky.social
"US stock market loses $4 trillion in value as Trump plows ahead on tariffs"
www.reuters.com/markets/us/i...
www.reuters.com/markets/us/i...
Investors flee equities as Trump-driven uncertainty sparks economic worry
Investor fears that trade tariffs will spark an economic downturn are driving a sell-off in equities that has wiped out trillions of dollars in value, a major reversal for Wall Street which had been fired-up by President Donald Trump's agenda.
www.reuters.com
March 11, 2025 at 4:11 AM
"US stock market loses $4 trillion in value as Trump plows ahead on tariffs"
www.reuters.com/markets/us/i...
www.reuters.com/markets/us/i...
GOLDMAN: “.. foreign ownership of US equities stands at an all-time high. Foreign investors owned just 2% of US equities in 1960 and 7% in 2000 but 18% of US equities at the start of 2025.
“.. 49% of foreign holdings are from investors in Europe.”
“.. 49% of foreign holdings are from investors in Europe.”
March 23, 2025 at 2:48 PM
GOLDMAN: “.. foreign ownership of US equities stands at an all-time high. Foreign investors owned just 2% of US equities in 1960 and 7% in 2000 but 18% of US equities at the start of 2025.
“.. 49% of foreign holdings are from investors in Europe.”
“.. 49% of foreign holdings are from investors in Europe.”
Goldman Sachs has just put out a warning about a full US-China financial decoupling which would wipe out $2.5 trillion.
US investors might be forced to sell $800 billion in Chinese stocks, while China could liquidate $1.7 trillion in US assets, including Treasuries and equities.
Boom.
US investors might be forced to sell $800 billion in Chinese stocks, while China could liquidate $1.7 trillion in US assets, including Treasuries and equities.
Boom.
April 17, 2025 at 11:41 AM
Goldman Sachs has just put out a warning about a full US-China financial decoupling which would wipe out $2.5 trillion.
US investors might be forced to sell $800 billion in Chinese stocks, while China could liquidate $1.7 trillion in US assets, including Treasuries and equities.
Boom.
US investors might be forced to sell $800 billion in Chinese stocks, while China could liquidate $1.7 trillion in US assets, including Treasuries and equities.
Boom.
Citigroup downgrades US equities to neutral from overweight.
April 14, 2025 at 5:54 AM
Citigroup downgrades US equities to neutral from overweight.
MSCI US equities 2025: 17.3%
MSCI non-US equities 2025: 32.39%
2026 shaping up the same (9% vs 15% so far).
Used to be able to claim the US was a dominant stock market with a big scary military. 18 months of Trump II and now it's neither.
MSCI non-US equities 2025: 32.39%
2026 shaping up the same (9% vs 15% so far).
Used to be able to claim the US was a dominant stock market with a big scary military. 18 months of Trump II and now it's neither.
August 18, 2026 at 4:13 PM
MSCI US equities 2025: 17.3%
MSCI non-US equities 2025: 32.39%
2026 shaping up the same (9% vs 15% so far).
Used to be able to claim the US was a dominant stock market with a big scary military. 18 months of Trump II and now it's neither.
MSCI non-US equities 2025: 32.39%
2026 shaping up the same (9% vs 15% so far).
Used to be able to claim the US was a dominant stock market with a big scary military. 18 months of Trump II and now it's neither.
muted start to the week, both bonds and equities soft. main macro events Core PCE Wednesday, NFP Friday:
September 28, 2026 at 5:11 AM
muted start to the week, both bonds and equities soft. main macro events Core PCE Wednesday, NFP Friday:
US: What I'm urging is that the court balance the equities
Judge: Yes, I think I have to balance the equities
US: If you're going to issue a TRO, call it a preliminary injunction so that it's clear we have right to appeal. Also stay injunction so we can appeal
Judge: Yes, I think I have to balance the equities
US: If you're going to issue a TRO, call it a preliminary injunction so that it's clear we have right to appeal. Also stay injunction so we can appeal
June 12, 2025 at 9:36 PM
US: What I'm urging is that the court balance the equities
Judge: Yes, I think I have to balance the equities
US: If you're going to issue a TRO, call it a preliminary injunction so that it's clear we have right to appeal. Also stay injunction so we can appeal
Judge: Yes, I think I have to balance the equities
US: If you're going to issue a TRO, call it a preliminary injunction so that it's clear we have right to appeal. Also stay injunction so we can appeal
Trump/Xi all pomp, no circumstance; another rumour re SoH resolution; but yields continue to rise and equities a little subdued, despite oil lower:
Asia equities ➡️ (Korea and China closed)
US and Europe equity futures small ↘️
Oil ↘️
Gold small ↘️
Bond Yields ↗️ (US 10yr 5.18%)
FX $ small ↗️ (JPY 158.4)
Asia equities ➡️ (Korea and China closed)
US and Europe equity futures small ↘️
Oil ↘️
Gold small ↘️
Bond Yields ↗️ (US 10yr 5.18%)
FX $ small ↗️ (JPY 158.4)
September 25, 2026 at 5:00 AM
Trump/Xi all pomp, no circumstance; another rumour re SoH resolution; but yields continue to rise and equities a little subdued, despite oil lower:
Asia equities ➡️ (Korea and China closed)
US and Europe equity futures small ↘️
Oil ↘️
Gold small ↘️
Bond Yields ↗️ (US 10yr 5.18%)
FX $ small ↗️ (JPY 158.4)
Asia equities ➡️ (Korea and China closed)
US and Europe equity futures small ↘️
Oil ↘️
Gold small ↘️
Bond Yields ↗️ (US 10yr 5.18%)
FX $ small ↗️ (JPY 158.4)
POV: you are an investor searching for safe harbour from the decline in US equities
April 9, 2025 at 2:58 AM
POV: you are an investor searching for safe harbour from the decline in US equities
For two years, US stocks went virtually straight up. In a matter of weeks, that’s been turned upside down, and as the equities selloff intensifies Wall Street is wondering where it stops
Stock Rout Picks Up Steam With Recession Warnings Blaring
For two years, US stocks went virtually straight up. In a matter of weeks, that’s been turned upside down, and as the equities selloff intensifies Wall Street is wondering where it stops.
www.bloomberg.com
March 10, 2025 at 3:37 PM
For two years, US stocks went virtually straight up. In a matter of weeks, that’s been turned upside down, and as the equities selloff intensifies Wall Street is wondering where it stops
AUGUR: “.. US equities have underperformed the rest of the world by over 10 percentage points year-to-date. This is the worst underperformance since 2009.”
@mikezaccardi.bsky.social
@mikezaccardi.bsky.social
August 13, 2025 at 12:36 PM
AUGUR: “.. US equities have underperformed the rest of the world by over 10 percentage points year-to-date. This is the worst underperformance since 2009.”
@mikezaccardi.bsky.social
@mikezaccardi.bsky.social
ROW: Long US equities, less so Treasuries:
As reported by the FT, "foreign investors made a record $942bn in net purchases of US equities and investment fund shares in the 12 months to July, accelerating a shift in ...
1 of 2.
As reported by the FT, "foreign investors made a record $942bn in net purchases of US equities and investment fund shares in the 12 months to July, accelerating a shift in ...
1 of 2.
September 26, 2026 at 1:25 PM
ROW: Long US equities, less so Treasuries:
As reported by the FT, "foreign investors made a record $942bn in net purchases of US equities and investment fund shares in the 12 months to July, accelerating a shift in ...
1 of 2.
As reported by the FT, "foreign investors made a record $942bn in net purchases of US equities and investment fund shares in the 12 months to July, accelerating a shift in ...
1 of 2.
APOLLO: “.. foreign investors are now significantly overweight US equities .. Combined with the dollar’s decline .. the downside risks to the S&P 500 as a result of foreigners selling are significant.” [Slok] 🇺🇸
March 19, 2025 at 12:54 PM
APOLLO: “.. foreign investors are now significantly overweight US equities .. Combined with the dollar’s decline .. the downside risks to the S&P 500 as a result of foreigners selling are significant.” [Slok] 🇺🇸
EU is US’ largest external financier, holding over $8 trillion in bonds & equities, twice the combined holdings of the rest of the world. Canada & Mexico are US’ two largest trading partners, each with total annual trade of about $900B. Turning any into an enemy is suicide.
January 21, 2026 at 5:31 PM
EU is US’ largest external financier, holding over $8 trillion in bonds & equities, twice the combined holdings of the rest of the world. Canada & Mexico are US’ two largest trading partners, each with total annual trade of about $900B. Turning any into an enemy is suicide.
(Bloomberg) - The Goldman Sachs Group Inc. strategist who correctly predicted Wall Street’s underperformance this year expects US equities to keep lagging for the next decade.
@bloomberg.com
www.bloomberg.com/news/article...
@bloomberg.com
www.bloomberg.com/news/article...
November 12, 2025 at 11:24 AM
(Bloomberg) - The Goldman Sachs Group Inc. strategist who correctly predicted Wall Street’s underperformance this year expects US equities to keep lagging for the next decade.
@bloomberg.com
www.bloomberg.com/news/article...
@bloomberg.com
www.bloomberg.com/news/article...
UK pension funds dump US equities on fears of AI bubble on.ft.com/4itDmgg
UK pension funds dump US equities on fears of AI bubble
Public and private-sector funds concerned over market’s growing concentration in a small number of tech stocks
on.ft.com
December 2, 2025 at 5:13 AM
UK pension funds dump US equities on fears of AI bubble on.ft.com/4itDmgg
The #SellAmerica trade: 🇺🇸
“.. The year-to-date underperformance of US equities relative to the rest of the world is the worst since at least 1995.”
- Auger
“.. The year-to-date underperformance of US equities relative to the rest of the world is the worst since at least 1995.”
- Auger
February 6, 2026 at 12:20 PM
The #SellAmerica trade: 🇺🇸
“.. The year-to-date underperformance of US equities relative to the rest of the world is the worst since at least 1995.”
- Auger
“.. The year-to-date underperformance of US equities relative to the rest of the world is the worst since at least 1995.”
- Auger
Non-US equities having one of their best starts of the year over the last four decades. 👀
@weisenthal.bsky.social
@weisenthal.bsky.social
February 10, 2026 at 4:10 PM
Non-US equities having one of their best starts of the year over the last four decades. 👀
@weisenthal.bsky.social
@weisenthal.bsky.social
HSBC goes overweight global equities to the “max”.
“.. Yesterday’s price action is indicative of ‘peak fear’ to us with some of our positioning indicators flashing pandemic-type signs. We are now max OW equities .. prefer Asia & Europe the most, US the least.”
“.. Yesterday’s price action is indicative of ‘peak fear’ to us with some of our positioning indicators flashing pandemic-type signs. We are now max OW equities .. prefer Asia & Europe the most, US the least.”
March 10, 2026 at 5:08 PM
HSBC goes overweight global equities to the “max”.
“.. Yesterday’s price action is indicative of ‘peak fear’ to us with some of our positioning indicators flashing pandemic-type signs. We are now max OW equities .. prefer Asia & Europe the most, US the least.”
“.. Yesterday’s price action is indicative of ‘peak fear’ to us with some of our positioning indicators flashing pandemic-type signs. We are now max OW equities .. prefer Asia & Europe the most, US the least.”
UBS cuts US equities to benchmark.
“.. The US has the lowest operational leverage of any major region and thus historically underperforms if global
growth accelerates to be above 3.5%.”
“.. The US has the lowest operational leverage of any major region and thus historically underperforms if global
growth accelerates to be above 3.5%.”
February 27, 2026 at 12:47 PM
UBS cuts US equities to benchmark.
“.. The US has the lowest operational leverage of any major region and thus historically underperforms if global
growth accelerates to be above 3.5%.”
“.. The US has the lowest operational leverage of any major region and thus historically underperforms if global
growth accelerates to be above 3.5%.”
GOLDMAN DESK: “Last week CTAs sold -$39bn of US Equities… There have only been 15 other instances of similar/greater magnitude in our dataset.
“.. We now have this cohort SHORT nearly -$10bn of US equities. At current mkt levels there is still -$17b of S&P 500 for sale (over the next 5 sessions)”
“.. We now have this cohort SHORT nearly -$10bn of US equities. At current mkt levels there is still -$17b of S&P 500 for sale (over the next 5 sessions)”
March 10, 2025 at 11:40 PM
GOLDMAN DESK: “Last week CTAs sold -$39bn of US Equities… There have only been 15 other instances of similar/greater magnitude in our dataset.
“.. We now have this cohort SHORT nearly -$10bn of US equities. At current mkt levels there is still -$17b of S&P 500 for sale (over the next 5 sessions)”
“.. We now have this cohort SHORT nearly -$10bn of US equities. At current mkt levels there is still -$17b of S&P 500 for sale (over the next 5 sessions)”
gotta admit I did not foresee that Trump 2.0 could lead to the next Dem president having to dispose of tens of billions of dollars of US equities
The President of the United States is a gangster shaking down anyone who won’t pay up
August 23, 2025 at 2:09 AM
gotta admit I did not foresee that Trump 2.0 could lead to the next Dem president having to dispose of tens of billions of dollars of US equities