Discover and read the best of Twitter Threads about #anygivensunday

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A short 🧵🪡
1/

On why this plunge in #FINRA margin debt matters more you one realizes
👇

- margin debt tanked -35% off peak and -$330 billion
- greater than GFC peak to trough
- and 1.59% (% market cap) lowest since dot-com low
2/

2023 equity market has been a game of “inches” but bullish case has gained #anygivensunday

- this week’s soft side inflation readings strengthened case for #Fed pause

- and a “pause” reduces risk of a hard landing

So that’s a good thing

3/

At some point, some “tie breaker” data will emerge:

- either “soft” or “hard” landing

Here is the thing, investor positioning clearly “hard” landing as #FINRA margin shows

- if our base case of “soft” landing plays out
- expect a #stampede into equities

Positioning 🤔
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