Party time in America!The Fed has just released Q4 flow of funds data.
There will be a lot of digging, but here’s one headline that’s already getting coverage.
American household wealth jumped $2.1 TRILLION in the quarter.
What happened? Stocks, that’s what happened.
Americans made about $934 billion in corporate equities ($8.5 trillion in Q4 vs. $7.57 trillion in Q3), another $300 Billion in mutual fund shares ($4.7 trillion over $4.395 trillion), and another $700 billion in the value of their pension funds ($13 trillion over $12.3 rillion).
It nicely offset yet another (modest) decline in household equity.
Read the whole data here (.pdf).