Relative Equity Market Performance – USA vs. Rest of the World U.S. equities have lagged global peers recently, posting their steepest relative underperformance in 15 years. The leadership baton has passed to cheaper, more cyclical markets overseas, pointing to brighter days for the global cycle. Image: Deutsche Bank Research
Seasonality of Market Performance – MSCI USA August and September have historically been less favorable months for U.S. equities, with lower average performance compared to other months. Image: BofA Global Quantitative Strategy
Fed Discount Window Usage vs. S&P 500 The Fed’s discount window borrowing has reached an all time high. What could go wrong? Image: BofA Global Investment Strategy
S&P 500 Price Return and USA Manheim Used Vehicle Prices As used-vehicle prices continue to decline, will the S&P 500 fall further? Image: Nordea and Macrobond
Housing – USA Case-Shiller House Price Will U.S. house prices go down soon? Image: Nordea and Macrobond
Stocks – Nasdaq vs. Russell, MSCI USA Growth vs. Value and U.S. 10-Year Real Rate Will growth stocks continue to outperform value stocks despite rising real rates? Image: Goldman Sachs Global Investment 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
Cycles of U.S. Equity Outperformance – MSCI EAFE and MSCI USA Relative Performance Will U.S. stocks continue to outperform developed market equities (ex-US)? Image: J.P. Morgan Asset Management
Forward Price/Earnings Ratio – MSCI USA Index and MSCI Emerging Markets Index Emerging markets look more attractive than the U.S. market on forward earnings. Image: Morgan Stanley Wealth Management
Stocks – U.S. Free Liquidity and MSCI USA YoY Should investors expect more upside for U.S. stocks, as U.S. free liquidity continues to rise? Image: BofA Global Research
Top 5 Stocks – MSCI Asia ex Japan Index vs. MSCI USA Index The MSCI Asia ex Japan Index is more concentrated in the 5 largest stocks than the MSCI USA Index. Image: Credit Suisse