👇 This is one of the slides Carson showed her advisers.
Stocks are at all-time highs, U.S. nominal GDP is growing at almost 8%, and investor sentiment feels like the calm before a storm.
According to BofA and EPFR, money market funds saw their largest weekly inflow since April 2020. Back then, money was fleeing the pandemic; now it’s fleeing a rising market.
▪️The Economist asks on its cover: could bonds explode?
▪️According to Axios, executives at Anthropic, OpenAI, and other AI companies are gaming out scenarios of a public revolt after a catastrophic AI event—and factoring one in for 2027.
▪️And Michael Burry writes that the market is at the first of five stages of accepting the inevitable—“denial,” which, based on the experience of 2000 and 2008, lasts 6–9 months.
For Carson, this is a contrarian signal. Fear amid a strong economy is more often fuel for further growth than a sign of a peak. And sooner or later, money in money market funds will return to stocks in search of yield.
Stocks are at all-time highs, U.S. nominal GDP is growing at almost 8%, and investor sentiment feels like the calm before a storm.
According to BofA and EPFR, money market funds saw their largest weekly inflow since April 2020. Back then, money was fleeing the pandemic; now it’s fleeing a rising market.
▪️The Economist asks on its cover: could bonds explode?
▪️According to Axios, executives at Anthropic, OpenAI, and other AI companies are gaming out scenarios of a public revolt after a catastrophic AI event—and factoring one in for 2027.
▪️And Michael Burry writes that the market is at the first of five stages of accepting the inevitable—“denial,” which, based on the experience of 2000 and 2008, lasts 6–9 months.
For Carson, this is a contrarian signal. Fear amid a strong economy is more often fuel for further growth than a sign of a peak. And sooner or later, money in money market funds will return to stocks in search of yield.