美银：The Flow Show-Different Gravy
2025-08-05 03:16
Accessible version 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 The Flow Show Different Gravy Scores on the Doors: gold 24.4%, bitcoin 23.7%, stocks 11.9%, HY bonds 7.1%, IG bonds 7.0%, govt bonds 5.3%, commodities 4.5%, cash 2.5%, oil -3.2%, US$ -7.9% YTD. Zeitgeist: "The railroad stocks were more than 60% of market cap in the late 1880s… why can't the Magnificent 7 get to the same level." The Biggest Picture: US railroads, dominant revolutionary monopolies, peaked at 63% of US market cap in 1881 (Chart 2); other new para ...