Latest news with #FmInvestments
Bloomberg
4 days ago
- Business
- Bloomberg
Wall Street's Dividend Tax Dodge Arrives in Fixed-Income ETFs
A pair of new bond exchange-traded funds is making it easier than ever for investors to avoid taxes on coupon payments. The F/m Compoundr High Yield Bond ETF (ticker CPHY) and the F/m Compoundr U.S. Aggregate Bond ETF (CPAG) began trading this week with the goal of transforming 'interest income into unrealized capital gains,' according to F/m Investments' website. To do so, the ETFs will sell off holdings prior to their dividend dates to avoid receiving a taxable distribution.
Yahoo
20-07-2025
- Business
- Yahoo
There's a little 'irrational exuberance' in markets: Strategist
Despite turmoil earlier in the year, the S&P 500 (^GSPC) is trading near record highs. F/m Investments CEO & chief investment officer Alex Morris says there's "a little bit of irrational exuberance" in the markets right now. Find out why in the video above. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-07-2025
- Business
- Yahoo
There's a little 'irrational exuberance' in markets: Strategist
Despite turmoil earlier in the year, the S&P 500 (^GSPC) is trading near record highs. F/m Investments CEO & chief investment officer Alex Morris says there's "a little bit of irrational exuberance" in the markets right now. Find out why in the video above. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Yahoo
20-07-2025
- Business
- Yahoo
There's a little 'irrational exuberance' in markets: Strategist
Despite turmoil earlier in the year, the S&P 500 (^GSPC) is trading near record highs. F/m Investments CEO & chief investment officer Alex Morris says there's "a little bit of irrational exuberance" in the markets right now. Find out why in the video above. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Yeah, I think what we're seeing with equities hitting new highs isn't, you know, it's a little bit of irrational exuberance again, but that isn't folks just saying the outlook for the world is great. Let's buy US equities. I think this is a simple supply and demand imbalance that's happening against a backdrop of some pretty noisy geopolitical information, whether it's, you know, actual hot wars in the Middle East, whether it's taco trade and and tariff talk, whether it's the government taking a victory lap and calling itself really smart today by signing a law called the Genius Act, there's a lot of sort of discordant things happening that might make some people feel great, but we don't think that's the the average temperature in the market. We do see is a lot of flows still coming into index funds. We see retail swinging things around much more than they ever have before. Now even more so because of the prevalence of highly leveraged ETFs in the marketplace. And as a result, I wouldn't interpret equity highs as deeply positive across the board, but that doesn't mean that you can't ride momentum, make some money while the trade lasts. Well, and does that also imply that if there is true optimism that is unlocked, right? If some of those things that you mentioned are resolved in what the market perceives is a positive way that you could even see more upside. Absolutely. If we are able to actually bring in a tariff policy and a trade policy that works and it isn't going to be overly inflationary, that would be great. We have some headwinds though we have to fight. We have some current, you know, fiscal policy that looks set to either A, not actually be resolved as we talked about shutdown coming a month or two down the road at least the potential for one. And then we have a $2 trillion bit of stimulus that we're going to shove into the economy that we're going to hope somehow isn't inflationary, and we don't have to have more Fed intervention to overcome that. So there if we can overcome both those and they're big but non-intractable problems, there's a lot of upside for equities and there's a lot of upside for the dollar regaining some of its strength. Alex, can you talk to me a little bit more about um some of those technical factors that you think are responsible for the market increase? You mentioned fund flows into index funds and retail trading, but what is driving that? I mean, is it just that people have a lot of money to invest and it has to go somewhere? You know, it's a nice problem to have a lot of money to invest. And I think that's that's generally true. We've seen a lot of cash on the sidelines. And certainly a lot of cash and money market funds and sort of worryingly more cash in bank accounts than we're used to. And those numbers, you know, round to 20 trillion. So it doesn't take a very large percentage of that to start to edge back out into the markets to really see some pretty meaningful flows. And we think that's definitely happening, but then we also see a lot coming into short-term treasuries. We see a lot coming into RT bill, X bill and O bill products on the short end of the curve. So there is some interest in getting out of pure cash, but not necessarily equities. But as we talked about, if you have a a retail investor who comes in and decides, you know, I'm not going to just buy the market, I'm now going to buy in through a fund that has options that are two or three extra market, they really have this amplified effect on short-term price movements. And those won't last forever, but that does sort of beget some, you know, mental stimulus as folks say, oh, I see new highs, I want to chase them too. Now, these highs by the way, aren't the same as we saw earlier in the year. We're now looking at highs that are fueled again, sort of 2024 style. Mostly tech, mostly Nvidia, mostly mag seven names that are starting to do the brunt of the heavy lifting again. And when that happened last time around, many of us start talking about, you know, market structural concerns. And some of that will come back. But this feels more like a short-term pop, the sort of sugar high of summer holiday then it does a structural change in wind that the stock market is going to go back to just always going up into the right on all of our charts. Yeah. Alex, we'll check back in with you soon to see how some of these situations turn out. Good to see you. Thank you. Good to see you. Related Videos Coca-Cola, GM, Alphabet, Tesla: Earnings to watch this week Fed's influence on mortgage rates: What homebuyers should know Tech highs, liquidity spigots, crypto week: Market takeaways Huntington Bank CEO talks Q2 earnings, tariffs, & Veritex deal Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
