SWISS NATIONAL BANK HOLDING UP THE US MARKET
$60B SHOULD ABOUT DO IT!
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.
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).