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Zdjęcie autoraJarosław Jamka

All Time High!

We can officially say that the correction initiated on March 28 this year (S&P500) has definitely come to an end and we have just hit a new ATH (all-time-high). Compared to the correction from 2023 (August-October), the current declines lasted only 3 weeks or one full month - see Figure 1.



In the case of the S&P500, we now have a fourth consecutive positive week, and the month (MtD) also looks very good +5.41%.


But Mag7 companies are doing even better, the month of May is already +8.47% positive! Mag7 grows practically twice as much as the S&P500 - counting, for example, from the peak of July 31, 2023 - see Figure 2.



Among American stocks, the Russell 2000 is the worst performing - see Figure 3.



The Russell 2000 has not yet made up for the losses since March 28 this year – see Figure 4. And Mag7 is already over 6% above the level from March 28 this year.



Japanese stocks are underperforming on the current correction - see Figure 5.



Gold is already at the new ATH - according to the closing prices – see Figure 6. In the case of Bitcoin, there is still some distance to the new ATH – see Figure 7.




In the case of currency pairs, the yen has clearly weakened - see Figure 8.



Dovish data on inflation and the US labor market allowed the yield of UST bonds to decline – see Figure 9.



In the case of Emerging Markets, Chinese shares have performed very well - Hang Seng Index, since April 18 this year, has already increased by almost 20%. Polish indices are also doing relatively well - see Figure 10.



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