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Animal Spirits: Did Trump Blink?

Animal Spirits: Did Trump Blink?

Michael Batnick
March 26, 2025

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Get a random Animal Spirits chart here

See here for more information on Exhibit A

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On today’s show, we discuss:

Charts:

Tweets:

A cold email one year ago changed my life.
Without it, Exhibit A wouldn’t exist. Here’s our story:
Around this time last year, @michaelbatnick, @Downtown, @Ritholtz, @awealthofcs, and @krisvenne gave me the opportunity to enhance @TheCompoundNews and @RitholtzWealth's chart
— Matt Cerminaro (@mattcerminaro)
8:03 PM • Mar 20, 2025

The middle class is shrinking because many people are getting too rich to remain middle class
— Chris Freiman (@cafreiman)
12:08 PM • Mar 23, 2025

"They're called Chimichanga Default Swaps"
— 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐇𝐲𝐩𝐞 (@EffMktHype)
4:46 PM • Mar 21, 2025

We are selling pad thai in installments to willing buyers at the current fair market price
— Axial Wanderer (@EricWollberg)
7:55 PM • Mar 20, 2025

what do you mean you have $11k in "doordash debt"
— adam 🇺🇸 (@personofswag)
8:12 PM • Mar 20, 2025

Homebuilder incentives are one of the tougher historical data sets to track consistently. Here’s what Lennar $LEN (the second biggest builder in America) has publicly reported on this metric since 2009.
For the most recent quarter through February, incentives hit 13%.
— Rick Palacios Jr. (@RickPalaciosJr)
9:58 PM • Mar 23, 2025

Here's the average intraday path of the S&P on Fed Days by Fed Chair. If the trading day ended at 2:45 PM ET, Powell would be the 2nd best in history. But it doesn't...
— Bespoke (@bespokeinvest)
12:05 PM • Mar 19, 2025

New hot sauce flavor just dropped: VistaShares with a filing for a Animal Spirits ETF (ANIM) and a 2x Animal Spirits ETF (WILD) which will hold the five fastest-growing 2x single stock ETFs.
— Eric Balchunas (@EricBalchunas)
6:49 PM • Mar 18, 2025

19 stocks in the Russell 1,000 have been "100-baggers" over the last 25 years (since the 3/24/00 Dot Com peak).
Monster Beverage $MNST is the only 1,000-bagger.
It's far from all Tech. Apple $AAPL sits between a farm supply retailer $TSCO and an auto parts retailer $ORLY.
— Bespoke (@bespokeinvest)
8:39 PM • Mar 24, 2025

US households own stocks.
UK, Euro Area not so much.
— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi)
11:18 AM • Mar 19, 2025

American households have never been more exposed to the risk of a stock market selloff. At the end of last year, they held $38 trillion in listed equities. Stock wealth now runs to 170% of disposable income, more than double the long-term average
— Mike Bird (@Birdyword)
5:11 PM • Mar 19, 2025

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