Eric Wallerstein
speaker
106 appearances
2 recordings
1 series
first heard Sep 2022
last heard Nov 2022
Eric Wallerstein’s voice in public audio — every appearance, attributed to the second.
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Appearances
There is definitely a lasting legacy of the U.S.
's outperformance.
This cycle is going on its 12th year, and research shows going back to the 70s, typically that only lasts about eight years.
So people have really grown accustomed to favoring U.S.
stocks.
Investors have added $86 billion just to mutual funds and ETFs that hold U.S.
stocks this year.
It's not quite where we were last year.
That was about $156 billion.
But other than that, it's the most since 2013.
So it's a pretty sizable amount given how far markets have declined.
Yeah.
So the interesting thing is, you know, the whole economy across the world is kind of in this darkened state.
And the U.S., a lot of investors are crediting the labor market as holding up and being very robust, as well as consumer spending has still been hanging in there even as the Federal Reserve increases interest rates.
So that relative strength to the rest of the world has really helped out.
And then there's the strength of the U.S.
dollar has also kind of buoyed stocks.
So it definitely has, and that's part of the reason that stocks are down so much this year.
But we've seen this push and pull between investors and cooling inflation.
At any signs that maybe price pressures are easing, they're really quick to jump in.
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