Search Results for: defensive

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

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

Cyclical Stocks – World Cyclicals vs. Defensives Around Bear Markets Cyclicals have recovered vs. defensives, in line with the average recovery, but they have lagged the post-GFC recovery. Image: Goldman Sachs Global Investment Research

Median Cyclicals vs. Defensives YoY Return Since 1990 Cyclicals tend to outperform Defensives during periods of economic strength. Image: Goldman Sachs Global Investment Research

Cyclical/Defensive Ratio vs. U.S. Recessions Cyclicals tend to outperform during periods of economic strength. Image: Variant Perception Research

Cyclicals vs. Defensives and Inflation 5y/5y Forward Cyclicals tend to outperform when inflation expectations rise. Image: Goldman Sachs Global Investment Research

Correlation with Vaccine Optimism (Value, Defensives, S&P 500, Cyclicals and Growth) Value could outperform as vaccine optimism increases. Image: Goldman Sachs Global Investment Research

Returns – Growth and Defensive Sectors vs. S&P 500 ex-Growth and Defensive Sectors Growth and defensive sectors are driving the S&P 500 higher YTD. Image: Societe Generale Cross Asset Research

U.S. 10-Year Treasury Yield vs. Cyclical/Defensives Stock Ratio The recent rise in the cyclical/defensives stock ratio could suggest a rise in 10-year yields. Image: Morgan Stanley Research