Global Macro Monitor

Happy Holidays, folks.   December 26th beckons, which happens to be the second most profitable trading day of the year for the S&P over the past 70 years, on average.  We have always been skeptical of averages, however, but Mr. Market doesn’t seem to be.   

It does feel Mr. M wants to make a new high in the S&P before year-end at 4818.62, set in January 2022, which is about 1.3 percent from current levels.  A chipshot.  Here’s to hoping he doesn’t shank the Santa Claus rally.    

We leave you with the best Christmas commercial ever.  Check it out. 

Have a great Christmas, and remember, it’s not about the toys but it’s the relationships.  

Blame Jay Pow. Prove me wrong.

A little context:  

‍The world’s 25 wealthiest families, where wealth has been passed down over at least one generation, are now collectively worth a cool $2.1 trillion, according to a new report from Bloomberg.

With first-generation money excluded, the industries on this list of dynasties look quite different to most modern rich lists, which are often dominated by tech entrepreneurs. Indeed, the majority of families listed owe their prosperity to physical, rather than digital, empires. – Chartr

Note the Musk, Bezos, and Gates families are excluded because their wealth was self-made.  Good for them! 

‘Twas the night before interest rate cuts, in markets worldwide, With hopes that central banks would soon  turn the tide.

The markets expect, with cuts so precise, the Fed cutting a hundred and ten basis points, to slice.

In the Eurozone too, cuts are now in sight, one hundred thirty-three basis points, to ease the tight plight.

The U.K. not far, with its own rate decree, Seventy-four basis points, to set finances free.

Canada’s stance, firm yet cautiously bold, a hundred and six bps cut, measured and told.

Each bank in its wisdom, may see the need clearly, to curb rising interest costs, that companies so fear.

For debt service bites, with a relentless claw, eating at bottom lines, exposing the flaw. The cuts couldn’t come quicker, the markets do plea, a global chorus, calling and set for a financial spree.

So as the world is waiting, with bated breath, for central banks’ to move, to dodge the debt’s death. The hopes were all pinned on this monetary dance, to revive the economies, and give growth a chance.

In boardrooms and exchanges, eyes all did fix, on central bankers’ play, their monetary tricks. Will their moves be enough, to calm the troubled sea? Or is more needed, for a stable economy spree?

‘Twas a global effort, a synchronized plan, to steer the ship safe, as best as they can. So here’s to the rate cuts, in the coming new year, may they bring relief swift, so economies’ can cheer.

Shohei Ohtani’s singular pursuit of history, one man’s quest to rewrite the baseball world’s understanding of what is possible, reached another summit on Saturday when he agreed to the largest contract in the annals of major North American team sports, a 10-year, $700 million contract with the Los Angeles Dodgers, per league source. – The Athletic

OK….maybe there is just a spike in the relative price of ballplayers.