Source: Bloomberg Billionaires Index
I was in the midst of my analysis of how the Fed would react to softening wage gains in the NFP data, when the markets exploded 2.5% higher.
The Fed is very concerned that the perennially underpaid median worker has been seeing wage increases. The past few years follows 3 decades of lagging income.
It kinda killed my motivation to write yet another pierce discussing Fed actions.
Instead, I’ll kick that over til next week, and share the latest update to the Bloomberg Billionaires Index. It is a daily ranking of the world’s richest people. (Details about calculations are explained here)
Have a good weekend!
