Indexed Return of Cyclicals vs. Defensives ex. Commodities and ISM Manufacturing Index Equity industry rotations are pricing in a soft landing. Image: Goldman Sachs Global Investment Research
MSCI Cyclicals/Defensives Ratio Is it still too early for investors to favor cyclicals over defensives? Image: The Daily Shot
6-Month Treasury Bill Yield vs. S&P 500 Cyclically-Adjusted Earnings Yield Should investors favor U.S. T-bills over U.S. stocks? Image: Goldman Sachs Global Investment Research
ISM Manufacturing PMI vs. Cyclicals/Defensives Ratio Could the ISM Manufacturing PMI fall into contraction territory? Image: The Daily Shot
Cyclical/Defensive Equities Ratio vs. 10-Year Treasury Yield The 10-year U.S. Treasury yield and the cyclicals/defensives ratio have decoupled. Image: Morgan Stanley Research
Cyclical to Defensives Stock Ratio and U.S. 10-Year Bond Yield The cyclical/defensives stock ratio points to economic weakness. Image: Morgan Stanley Research
S&P 500 Cyclicals Earnings with Trend Are consensus earnings estimates far too optimistic? Image: Deutsche Bank
Cyclicals vs. Defensives and 10-Year Breakeven Does stagflation pose a threat to markets? Image: Goldman Sachs Global Investment Research
Value Stocks – Net % OW Late Cyclicals If inflation persists, should investors continue to look towards value and cyclical stocks? Image: BofA Global Fund Manager Survey
Valuation – U.S. Cyclically Adjusted P/E Ratio Will the valuation of U.S. equities decline over the next few years? Image: Oxford Economics