Markets and Macro

This report outlines a highly dynamic market environment characterized by recent pullbacks in momentum, strong retail buying, and elevated corporate buyback activity. It highlights global regional developments including significant capital raises in the US and the rapid growth of the memory sector in Korea and Japan.

Key Takeaways

• 1.Market environment remains highly dynamic with a notable retracement following a torrid rally.
• 2.Retail investors continue to be the market's biggest sponsor, maintaining strong buying activity.
• 3.Corporate buyback activity is running at double the standard pace of recent years.

Table of Contents

• flow-of-funds / positioning
• the US
• Korea
• Japan
• Europe
• three charts for the road