DC Lite #272

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Administrative update: DC will be off tomorrow. Publishing will resume on Thursday, January 2nd.

1. Credit card delinquency rates. "Credit card delinquency rates for prime borrowers have not risen during the recent tightening cycle."

2. Redbook. Strength in same-store retail sales continues, up 7.1% YoY for the week ending Dec 28.

3. Speculative option volume. Speculative option volume is approaching peak 2021 levels.

4. Semis & Tech. "If these ratios begin to decline from here, it's a clear signal to adopt a more cautious approach and reduce exposure to risk assets ... However, if these ratios break out above their previous highs, it would indicate strong confirmation that the bull market has room to run."

5. Perspective. “The century is one-quarter over. The S&P 500 Total Return index is up 542%, which is about 7.7% per year (not including inflation). Since the March 2009 low, the S&P 500 Total Return is up over 1,000%. As late as 2011, the market was underwater for the century.”