SWISS NATIONAL BANK HOLDING UP THE US MARKET

$60B SHOULD ABOUT DO IT!

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In a stealth fashion the Swiss National Bank (A SWAP Proxy for the Fed or US Treasury?) has acquired $60B of SPECIFIC  US Equities!

Since the end of QE3 (Oct 2014), the broadest measure of the US equity market (NYSE Composite) is modestly lower (-1.2%).

However, 5 US stocks have soared an impressive 35% since then.

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In fact, as Bloomberg reports, the five biggest companies in the world by market value were all U.S. tech companies (a feat that wasn't even achieved during the exuberant peaks in the dot-com bubble in 2000).