Can things possibly be this good?

Of the world’s 20 largest stock markets, 14 have hit all-time highs recently. 

Looming interest rate cuts, healthy economies and corporate earnings are driving the activity. And what’s more, there are plenty of potential drivers to keep the rally rolling, such as the $6 trillion sitting in money market funds, while risks remain scarce.

The April pullback in global stocks didn’t last long, as dip buyers consistently showed up

US stocks have been on a $12 trillion rally since late October. 

Bloomberg 18 May 2024

https://www.bloomberg.com/news/articles/2024-05-18/tokyo-to-new-york-stock-markets-are-on-a-record-hitting-spree-around-the-world

top Wall Street strategist Ed Yardeni

MarketWatch 20 May 2024

https://www.marketwatch.com/story/a-massive-earnings-surge-could-lift-the-dow-to-60-000-and-the-s-p-500-to-8-000-says-top-wall-street-strategist-7f5568c0

One of Wall Street’s last remaining bears has finally capitulated. - MarketWatch

Deutsche Banks prognos ligger  på ”street high”-nivå, det högsta estimatet bland större banker och mäklarfirmor

Även Oppenheimer har en prognos om att S&P 500 slutar året på 5.500.

Ett lyft till 5.500 punkter skulle  innebära en uppgång på ytterligare 3,5 procent från nuvarande nivå.

Med sitt nya riktvärde, som gäller för juni 2025, överger analysteamet på Morgan Stanley sin tidigare tro på en djupare tillbakagång för amerikanska aktier

DI 20 May 2024

https://www.di.se/live/morgan-stanley-hojer-prognos-for-usa-borsen/

Stocks are at all-time highs 

Credit spreads are almost as tight as they were in the crisis summer of 2007 — but it might just make sense this time

As it stands, the high rates have not fueled the much anticipated wave of corporate defaults — one of the most reassuring dogs that did not bark of the post-pandemic period. 

Can this continue? There are still opportunities for mishap. S&P estimates that $1.5 trillion of high-yield debt, including loans, is maturing globally through the end of 2026, of which $882 billion is in the US.

Bonds worth $53.8 billion are maturing this year, $125.5 billion next year, and $158.6 billion in 2026.

Corporate treasurers have done a great job of extending their credit and pushing any potential moment of truth further into the future.

John Authers 20 maj 2024

https://www.bloomberg.com/opinion/articles/2024-05-20/markets-stocks-good-times-are-back-but-might-not-roll-on

Småbolagen rusar igen 

”Jag tror att det här bara är början”, säger Enters småbolagsförvaltare Jon Hyltner. 

https://www.di.se/nyheter/smabolagen-rusar-igen-det-har-ar-bara-borjan/