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A warning on concentrated US stock gains and falling G10 liquidity
A market account says roughly 23% of the largest 500 US stocks outperformed the S&P 500 over the past decade.
TLDR
A market account says roughly 23% of the largest 500 US stocks and 22% of the top 2,000 outperformed the S&P 500 over the past decade. It says a G10 excess liquidity indicator fell to its lowest level since early 2024 and has historically led risk assets by around three to six months. The account warns that falling liquidity and reliance on a few market leaders could leave equities vulnerable.
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