Trillions Rotate From Bonds to Stocks After Election

From Torsten Sløk, Ph.D.:

Since the US election in November the total market cap of world stock markets is up by $3trn while the global market cap of world bond markets is down by $3trn, see chart below. While some of this is driven by the appreciation of the dollar this great rotation roughly suggests that all the money that was taken out of bond markets since the US Presidential election was put to work in the stock market.

Source: Deutsche Bank Securities

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