Consolidated Equity Positioning

Consolidated Equity Positioning Consolidated equity positioning, currently at the 35th percentile, has steadily increased and is nearing neutral, indicating a gradual shift from defensive to more balanced equity exposure. Image: Deutsche Bank Asset Allocation

Global Equity Valuations

Global Equity Valuations The market environment favors global ex-U.S., small-cap, and value stocks for their cheap valuations and growth potential, while U.S., large-cap, and growth stocks face valuation headwinds and higher downside risk. Image: Topdown Charts

Equity Sector Flows

Equity Sector Flows Strong IT spending and AI innovation are driving robust inflows and sustained investor enthusiasm, which in turn support the technology sector’s resilience and growth in 2025. Image: J.P. Morgan Equity Derivatives Strategy

U.S. Equity Index P/E Valuations vs. History

U.S. Equity Index P/E Valuations vs. History The S&P 500’s forward P/E ratio is about 22x, higher than its historical average. While this indicates optimism, it also means the market is more vulnerable to earnings disappointments, increasing potential risks ahead. Image: Goldman Sachs Global Investment Research

Sentiment Indicator – Investor Equity Positions

Sentiment Indicator – Investor Equity Positions Hedge funds are currently more bullish on the market compared to other investor categories, which remain cautious and have not significantly increased their market participation. Image: Goldman Sachs Global Investment Research

Discretionary vs. Systematic Equity Positioning

Discretionary vs. Systematic Equity Positioning Discretionary investors are maintaining an underweight stance in equities at the 22nd percentile. Meanwhile, systematic strategies are gradually increasing their equity exposure but remain underweight overall. Image: Deutsche Bank Asset Allocation

Risk-Adjusted Returns Across U.S. Equity Indices

Risk-Adjusted Returns Across U.S. Equity Indices The S&P 500’s performance so far this year has been marked by relatively low returns and high volatility, leading to weak risk-adjusted outcomes and signaling a challenging environment for investors seeking favorable risk-reward balances. Image: Goldman Sachs Global Investment Research

Global Market Implied Equity Risk Premiums

Global Market Implied Equity Risk Premiums The low U.S. equity risk premium reflects a market where investors earn little to no additional expected return for taking on the higher risk of stocks compared to bonds. As a result, equity investing becomes more challenging. Image: Goldman Sachs Global Investment Research

Systematic Equity Positioning

Systematic Equity Positioning Systematic strategies continue to adopt a cautious stance, as equity positioning remains at the 24th percentile amid ongoing market uncertainty. Image: Deutsche Bank Asset Allocation