% of Large-Cap Mutual Funds Outperforming their Benchmarks

% of Large-Cap Mutual Funds Outperforming their Benchmarks With 51% of large-cap mutual funds beating their benchmarks year-to-date, surpassing the long-term average, it’s a positive sign. However, historically, most active funds have struggled to consistently beat their benchmarks. Image: Goldman Sachs Global Investment Research

Probability of U.S. Recession As Priced Across Asset Classes

Probability of U.S. Recession As Priced Across Asset Classes The S&P 500 is pricing in about a 25% chance of a recession, which is lower than signals from copper prices or the yield curve, but higher than the recession probabilities implied by global equities or high-yield credit markets. Analysts often use the current percentage change…