Merry and happy. From an econ-data-gathering acquaintance; much of it from vampire squid; overall bullish, imo:
-- ytd, S&P has added $1.78 tr of market cap, to $18.28 tr.
-- in the last five years combined, S&P companies have spent over $2 tr in gross buybacks.
-- S&P 500 companies spend 95% of profits on dividends and buybacks.
-- for 2015, forecasting another $706 bn (+18%) of buybacks and $740 bn (+6%) of capex.
-- top 20 companies in S&P, ranked by earnings, account for 35% of all S&P earnings.
-- total return of S&P off the 2009 lows: 243% (208% price return, 35% dividends).
-- average dollar price of an S&P stock is $82.54 (the average price cap-weighted is $61.39).
-- over the past two years, correlation to US GDP growth: S&P 74%, Russell 2000 49%.
-- nearly 80% of FTSE 100 revenues come from outside the UK; it's as American (22%) as it is British (22%).
-- approximately 65% of Stoxx 600 companies have a dividend yield that exceeds their corporate bond yield.
-- equity risk premium in European equities is around 7.5%, below peak level of 2012, but still above 2008 crisis levels.
-- assuming 120 USD/JPY, the BoJ's balance sheet is expected to grow from $2.5tr to $3.2tr over the next 12 months.
-- AUM of levered ETFs in the US market is $41bn, which is only 2% of total ETF AUM.
-- how big are the high-yield ETFs in context of market size? HYG = $14bn, JNK = $10bn. That's 2% of the $1.4tr HY market.
-- volume in VIX options has risen every year since 2006 -- current ADV is 6x 2008 levels.
-- 10% drop in oil = ~ 10 bps contribution to US GDP (correlation has fallen in recent years).
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