25-Year Cumulative Return of S&P 500 over Gold Warren Buffett has a skeptical view of gold as an investment, but apparently, gold didn’t get the memo and has been outperforming the S&P 500 over the past 25 years! Image: Deutsche Bank
5-Year U.S. Treasury Yield vs. Bank Stocks Correlation The combination of higher bond yields and rising bank stocks is often often viewed as a sign of a bullish market environment. Image: BofA Global Investment Strategy
Inflation – U.S. 5-Year, 5-Year Forward Breakeven Rate U.S. bond market expectations for inflation are rising again, which is not good news. Image: The Daily Shot
Gold Price vs. U.S. 5-Year TIPS Yield Generally, when the U.S. 5-year TIPS yield goes up, gold tends to go down. Image: The Daily Shot
5-Year Rolling Correlation Between S&P 500 TTM EPS YoY vs. China Nominal GDP and U.S. Nominal GDP China’s economic growth slowdown suggests trouble ahead for the S&P 500. Image: BofA US Equity & Quant Strategy
Rates – Short Duration vs. Long Duration Indexed Relative to Basket Return and 5-Year, 5-Year Forward Real U.S. Treasury Yield Short vs. long duration tends to track the path of U.S. rates. Image: Goldman Sachs Global Investment Research
U.S. 5-Year/5-Year Forward TIPS Breakeven Inflation Rate and Fed’s Target Zone Is U.S. inflation still a risk? Image: BCA Research
S&P 500 and Euro Stoxx 50 – 5-Year Implied Dividend Yield S&P 500 and Euro Stoxx 50 implied dividend yields remain very low. Image: Goldman Sachs Global Investment Research
S&P 500 Pure Value/Pure Growth Index and 5-Year U.S. Treasury Breakeven Rate The 5-year U.S. Treasury breakeven rate tends to drive the rotation from growth stocks to value stocks. Image: Morgan Stanley Wealth Management
U.S. Inflation Expectations – U.S. 5-Year Breakeven and U.S. Core PCE Price Index Will inflation expectations fall back to lower levels? Image: Bloomberg
Core PCE Inflation and 5-Year, 5-Year Forward Breakeven Inflation Rate Are inflation expectations too high? Image: Alpine Macro