Victoria’s Secret () is back: a $100,000 investment has quadrupled since the Fashion Show’s return was announced.
On Thursday, Recorded the Largest Single Day Increase in Market Cap Ever
Market cap trajectory of the 5 mega-cap tech stocks.
After beating Q2 estimates, Nvidia surged to a $5.5tn market cap, adding nearly $500bn in a single session. It’s the largest one-day valuation gain by any company on record. In 24 hours, Nvidia added more than Costco is worth in its entirety.
Source: Trend Spider
Nvidia Quarterly Income in Perspective
Nvidia now earns more in a single quarter than 12 of America’s most iconic companies combined. That’s what happens when one company becomes the infrastructure layer underneath the fastest capex cycle tech has ever seen.
Source: StockSavvyShayca
The Comeback of Victoria’s Secret
Investing $100,000 in Victoria’s Secret ($VSXY) the day they announced the Fashion Show was coming back would be worth $402,000 today.
Source: Michael Burry Stock Tracker
The Top 5 Themes by Year Based on Flows
AI, infrastructure, defence, space, and nuclear are 2026’s top five ETF themes.
Source: A16Z
Time to Get Worried About French Debt?
With the 2027 presidential election ahead, foreign investors could drive the next phase of France’s sovereign repricing. Despite repeatedly breaching EU debt and deficit limits, non-residents still held a striking 57% of French government debt at the end of2025.
France also benefits from the perceived ECB backstop, with markets broadly assuming intervention in a severe bond-market crisis. But the 2027 presidential election could test both foreign investor confidence and that backstop.
Source: Financial Times
The Fed Owns More Than HALF of Treasuries Maturing in 10–15 Years
Of the approximately $1.03tn currently outstanding in this maturity segment, close to $540bn is held by the Federal Reserve.
Why?
This largely reflects the aftermath of quantitative easing following the 2008 financial crisis and, even more significantly, the COVID period, when the Fed purchased trillions of dollars in longer duration US Treasuries. As time has passed, those securities have moved further down the maturity curve.
The broader picture is even more notable: The Federal Reserve continues to hold approximately $1.6tn in Treasuries that have more than 10 years remaining until maturity.
In other words, an enormous amount of duration is still being kept away from private investors.
However, as the Fed progressively reduces the size of its portfolio, other buyers will have to step in and absorb the additional supply. Unlike the Federal Reserve, private investors are sensitive to the price they pay.
So, the crucial question goes beyond how much debt Washington plans to issue. What really matters is who will ultimately purchase it, and what level of yield they will require.
Source: TreasuryBonds.com, @TreasuryBonds1
The Average Family Office Asset Allocation in Q2 2026
Family offices increased their allocation to equities during the second quarter, while reducing their exposure to real estate and private market assets, according to the most recent CNBC Family Office Portfolio Tracker.
During the second quarter, single family offices allocated 37% of their portfolios to stocks, compared with 34% in the previous quarter. The figures come from CNBC’s Portfolio Tracker, powered by Addepar, a global data and artificial intelligence platform used by financial professionals.
Source: CNBC