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Today is set to be the biggest gap higher for the S&P 500 ETF $SPY (+1.6%) after a scheduled Fed Day since 10/30/08 (+2.9%) after Bernanke cut by 50 bps in the midst of the Financial Crisis.
IMHO investors would rather access illiquid assets like private eq/credit in ETFs and deal with discounts and premiums (even steep ones) than in an interval/closed end/mutual fund.. one eg $HYD which traded at 29% discount in 2020, since then it’s remained very popular, even… pic.twitter.com/TvuXJWadHQ
from JPM: “Median balances in June 2024 were 15% higher than they had been in June 2019 for low-income households, and 5% higher for high-income households
{{Note this is percent change (relative to 2019) in median monthly ***real*** cash balances, by income quartile}} pic.twitter.com/87cP4rduvO
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