8 days ago • Posted by Charles-Henry Monchau
To put things in perspective: The S&P 500 / Fed Balance sheet is trading at the same level as in 2008
The S&P 500 may have hit a new ATH today, but if you put the index in relation to the Fed's balance sheet, it is trading at the same level as in 2008, so equities have traded sideways since 2008, basically counteracting balance sheet expansion.
Source: Holger Z, Bloomberg