U.S. households and nonprofits currently have their highest-ever equity exposure as a share of net worth.
That holds true for both direct holdings—aka stocks, ETFs, etc.—and total exposures, including life insurance, pensions, and 401(k)s.
However, unlike in 2022, when the economy absorbed a market drop from similar holding weights with the cushion of Covid-era savings, that financial buffer is now largely gone.
#EyeonVolatility
