CTAs Exposure to Equities

CTAs Exposure to Equities CTAs have increased their long equity positions to a moderate-high level, reaching the 41st percentile. This reflects a notable increase in their equity exposure over the past few months. Image: Deutsche Bank Asset Allocation

Equities as a Share of Household Assets

Equities as a Share of Household Assets U.S. households now allocate about 49% of their assets to equities, a level that reflects strong market optimism and a significant appetite for risk. Image: Goldman Sachs Global Investment Research

YTD Cumulative Global Fund Flows into U.S. Equities

YTD Cumulative Global Fund Flows into U.S. Equities Despite some volatility and brief periods of outflows, flows into U.S. equities in 2025 have been running above the 24-year average, with projections pointing to a record year for inflows. Image: Goldman Sachs Global Investment Research

Valuation – U.S. Equities vs. Rest of World – 12-Month Forward PE Ratios

Valuation – U.S. Equities vs. Rest of World – 12-Month Forward PE Ratios U.S. equities trade at historically high valuations versus global peers, with the premium widening. While strong fundamentals support this, it also poses risks if growth expectations decline or macroeconomic conditions worsen. Image: Deutsche Bank

Equities – Global Valuation Range

Equities – Global Valuation Range While non-U.S. markets appear attractive compared to the U.S., their valuations are not especially low by their own historical standards. Image: Goldman Sachs Global Investment Research

Foreign Investor Net Purchases of U.S. Equities

Foreign Investors Equity Allocation Percentile vs. History While trade policy concerns, slowing growth, and dollar depreciation have created headwinds, Goldman expects moderate foreign selling of U.S. equities in March-April, driven by valuation opportunities and strategic positioning. Image: Goldman Sachs Global Investment Research

Equities – MSCI U.S./RoW Distance from 200-DMA

Equities – MSCI U.S./RoW Distance from 200-DMA The MSCI U.S./RoW distance from the 200-DMA highlights a major interruption to the narrative of U.S. exceptionalism and reinforces the need for global diversification in equity portfolios. Image: Bloomberg

Foreign Ownership of U.S. Equities by Region

Foreign Ownership of U.S. Equities by Region European investors, major holders of U.S. stocks, could impact valuations if trade tensions rise, potentially shifting focus to European markets benefiting from fiscal stimulus and increased defense spending. Image: Goldman Sachs Global Investment Research

U.S. Equities – Foreign Investors’ Net Portfolio Equity Flows

U.S. Equities – Foreign Investors’ Net Portfolio Equity Flows Foreign investors’ recent behavior in U.S. equities—marked by limited activity and stable portfolio allocations—suggests a long-term bullish outlook on the resilience of the U.S. market. Image: Deutsche Bank

Global Equities Around Fed Cut With And Without Recession

Global Equities Around Fed Cut With And Without Recession Strong performance in global equities is common after the Fed’s initial rate cut, particularly when the economy remains recession-free for the subsequent 12 months. Image: Goldman Sachs Global Investment Research