The narrowest rally this century

S&P 500 is currently beating the equal-weighted version of the same index by 9.3pp (S&P +8.1%, S&P Eq. Weight -1.2% YTD). This is the biggest beat since the 9.3pp beat in 1999 and the 16.3pp beat in 1998. And remember that 2023 isn’t even 5 months old yet.