Search Results for: cyclical

Outperformance of Procyclical Styles – Current Rotation vs. History Investors are pricing a cyclical recovery. Image: Morgan Stanley Research

Equity Risk Premium – S&P 500 Cyclically-Adjusted Earnings Yield and 10-Year Treasury Yield The equity risk premium suggests that U.S. equities remain attractive relative to bonds. Image: Alpine Macro

Valuation – Cyclical Adjusted P/E Ratio – MSCI U.S. vs. MSCI World Ex-U.S. Are global equities ex-U.S. a bargain? Image: Gavekal, Macrobond

U.S. Cyclicals vs. Defensives and Brent U.S. cyclicals vs. defensives diverged significantly from the price of Brent in January. Image: Goldman Sachs Global Investment Research

Cyclical to Defensives Stock Ratio and U.S. 10-Year Bond Yield The cyclical/defensives stock ratio still suggests higher bond yields. Image: Morgan Stanley Research

Cyclical/Defensive Equities Ratio vs. 10-Year Treasury Yield The rise in the cyclical/defensive equities ratio still suggests a rise in 10-year yields. Image: Morgan Stanley Research

Valuation – Shiller Cyclically Adjusted Price/Earnings Ratio Over the last 100 years, stock market crashes have tended to follow liquidity-fueled booms. Image: Morgan Stanley Wealth Management

Valuation – U.S. Market Capitalization to GDP and Cyclically Adjusted P/E (Shiller CAPE) U.S. market capitalization to GDP is at all-time high. Image: Goldman Sachs Global Investment Research

Stocks – Cyclicals vs. Defensives Cyclical stocks are expected to outperform defensive stocks from an improving economy. Image: Goldman Sachs Global Investment Research

Cyclicals/Defensives vs. ISM Manufacturing PMI Cyclical stocks tend to outperform defensive stocks during periods of economic strength. Image: Nordea and Macrobond