Bonds vs. Cyclicals

Bonds vs. Cyclicals This chart shows that the dispersion between bonds and cyclicals is very extended. Image: Fidelity Investments

Cyclicals to Defensive Stock Ratio and Treasury Bonds

Cyclicals to Defensive Stock Ratio and Treasury Bonds Market internals, the preference for large over small and quality over junk, suggest that the recovery will be modest. Image: Morgan Stanley Research

U.S. Cyclicals/Defensives vs. ISM Manufacturing PMI

U.S. Cyclicals/Defensives vs. ISM Manufacturing PMI Chart showing the large divergence between U.S. cyclicals/defensives and the ISM Manufacturing PMI. Eventually, the gap should close soon. Image: Topdown Charts

Cyclicals vs. Defensives Performance

Cyclicals vs. Defensives Performance Cyclicals vs. defensives are now two standard deviations from 12M average, as risk-on tone grips stocks. Image: Morgan Stanley Research

U.S. Cyclicals vs. Defensives

U.S. Cyclicals vs. Defensives It’s all about sector rotation: the cyclicals vs. defensives trade is now pricing a growth acceleration. Image: Goldman Sachs Global Investment Research

U.S. Cyclicals vs. Defensives

U.S. Cyclicals vs. Defensives Cyclicals vs. defensives have been a good indicator for monitoring investor sentiment. Image: Goldman Sachs Global Investment Research

S&P 500 Cyclicals Relative to Defensives

S&P 500 Cyclicals Relative to Defensives Chart suggesting that S&P 500 cyclicals could outperform defensives in 2020, based on higher U.S. nominal GDP growth. Image: Stifel