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by Ross Givens
Hey, Ross here:
With market sentiment quickly becoming more and more bullish, some have started to wonder whether stocks can keep going up.
Where will the money come from?
Today’s chart answers that question.
Chart of the Day
This is the total amount of assets parked in money market funds – also known as “money sitting on the sidelines”.
And as of the middle of last week, there was nearly $5.9 trillion of money in the sidelines – an increase of over $120 billion from two weeks prior.
In other words, even as the stock market has been rising – the amount of money on the sidelines has increased.
As we move closer to the new bull market… as bullish sentiment keeps rising… and as Treasury yields continue to fall (reducing the appeal of money market funds)…
It’s those trillions of dollars on the sidelines that could send the market to a new leg higher.
So don’t worry – there’s still plenty of fuel left to power an even bigger rally.
Insight of the Day
The Fed’s move tomorrow could trigger a big wave of that sideline cash to come pouring into the market.
The latest inflation data just came in a few minutes ago.
While the Fed concludes its monetary policy meeting tomorrow.
They’ll most likely hold rates steady.
But with the latest economic data coming in much stronger than expected, their post-meeting comments could be a LOT more dovish than expected…
And that could trigger the first big wave of the nearly $6 trillion in “sideline cash” to come flooding into the market.
Mandatory U.S. Dollar Recall to Begin on December 13th?
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