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
Financial Stocks vs. Financial Bonds and 5-Year U.S. Treasury Bond Financial stock outperformance tends to track 5-year rates. Image: BofA Global Investment Strategy
Forward P/E Ratio and Subsequent 5-Year Annualized Returns Should investors expect anemic S&P 500 returns over the next 5 years? Image: J.P. Morgan Asset Management
Value vs. Growth Stocks and U.S. 5-Year Inflation Breakeven Rate According to BofA, value stocks are broken after the worst performance relative to growth over a 10-year period. Image: BofA Research Investment Committee
Yield Curve – Difference 5-Year and 30-Year Treasury Yields The yield curve steepens after the Fed pivot. Are Gold prices at risk? Image: Financial Times
Gold Price vs. U.S. 5-Year TIPS Yield The price of gold and U.S. 5-year TIPS (inverted) continue to track each other. Generally, when the U.S. 5-year TIPS yield goes down, gold tends to up. Image: The Daily Shot – The Wall Street Journal
Gold Price and Forecast 5-Year Real Rates Goldman Sachs expects U.S. real rates to continue to fall, and raised its 12-month forecast on gold to $2000/toz. Image: Goldman Sachs Global Investment Research
Relative Performance of Bank Shares vs. Index and 5-Year Treasury Yield This chart suggests the relationship between interest rates and relative bank performance. Image: BofA Global Investment Strategy