BofA: 2024 was the year of biggest US outperf. vs EU since 1976 (+20%)...which is a continuation of the 2020s theme of the US being very "exceptional" vs EU, with average GDP growth of 2.3% in the US vs 1% EU, resulting in a record $1.1tn inflow to US stocks vs $0.3tn outflow from EU:
US equities - the black hole for global capital:
Europe has gone from relying entirely on cheap Russian gas to relying entirely on expensive US LNG:
Don’t let them do it to you:
