- Real Estate falls to third place after a sharp drop. US Equities now lead all asset classes. FAANG stocks gain $873 billion in value ytd, nearly recouping Q4 losses.
- Healthcare stands out as the only sector down for the year on political concerns over growing popularity of Medicare for All.
- With market confidence returning, China reports a shift away from stimulus and a renewed focus on structural reforms.
- WSJ reports Social Security costs will exceed income next year for the first time since 1982. On current path, fund to be depleted by 2035.
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