Yesterday we discussed the movements in the JPY, and as anticipated, today we will briefly cover their relevance for global risk markets and the global benchmark, the SP500 The Japanese banking and insurance sectors are among the largest and most important in the world. As of 2024, Japanese banks held approximately USD 17 trillion in […]
As of yesterday’s close, the S&P 500 is up 15.62% year to date. This performance is broadly consistent with the long-standing assumption that, over the long run, the index that best “represents” the market tends to deliver average annual returns of around 10%. This may help explain why, for several weeks now, we have no […]
On Friday, 21 November 2025, Eli Lilly became the first pharmaceutical company to reach a valuation typically reserved for major technology giants: USD 1 trillion. The milestone was achieved when its share price hit $1,057.78. Alongside Big Tech, the company now trades at valuations that—while elevated, as we will see shortly—many analysts consider justified by […]
