Growth Stocks – One-Year Correlation: 10-Year US Treasury Yield/MSCI Value Index vs. 10-Year US Treasury Yield/MSCI Growth Index U.S growth stocks are currently highly correlated with U.S. bond yields, as they were during the dotcom bubble. Image: Morgan Stanley Wealth Management
Global Equities – MSCI AC World Mid- and Large-Cap Index Are global equities poised for a drawdown at some point? Image: Gavekal, Macrobond
Performance – MSCI World Growth Index / MSCI World Value Index Will global growth stocks continue to outperform global value stocks? Image: Bloomberg
Equity Performance – MSCI China/MSCI US The Chinese equity market has significantly underperformed the U.S. equity market over the last decade. Image: Gavekal, Macrobond
Equities – MSCI ACWI Total Return vs. U.S. High Yield/High Grade Total Return Relative Is high yield credit a bearish sign for global equities? Image: BofA Global Investment Strategy
EPS Growth – MSCI U.S. 12-Month Forward Earnings per Share Estimates of EPS growth continue to hold up well. Image: Morgan Stanley Wealth Management
Equities – MSCI EM Net $ Positions and U.S. Equity Net $ Positions Futures positioning in U.S. equities remain high. Image: Goldman Sachs Global Investment Research
Performance – MSCI World Ex-U.S. and MSCI U.S. It has not paid to bet against U.S. stocks so far this year, as the gap between the U.S. stock market and stocks from the rest of the world continues to widen. Image: The Daily Shot
Trade-Weighted U.S. Dollar Index and U.S. 30-Year T-Bond Price vs. MSCI All-Country World Will the safe-haven U.S. dollar continue to rise amid Delta COVID variant outbreak? Image: BCA Research
Performance – MSCI All Countries ex-USA vs. S&P 500 Will the S&P 500 continue to outperform global equities ex-U.S.? Image: Topdown Charts