Incremental Nominal GDP from each $1 of Additional Debt vs. U.S. Non-Financial Debt % of GDP Rising U.S. debt with falling nominal GDP per $1 of incremental debt suggests insolvency by 2040. Image: Stifel
Valuation – Real Assets vs. Financial Assets The price of real assets relative to financial assets is at all-time lows since 1925. Should investors own more precious metals and real estate? Image: BofA Global Research
Most Famous Financial Bubbles Around their Peak and the S&P 500 Is Bitcoin in a bubble disconnected from reality? Image: Goldman Sachs Global Investment Research
Performance – S&P 500 Tech Sector Relative to Financials Could financial stocks head higher and continue to outperform the S&P 500 tech sector? Image: Longview Economics
Net Debt of Nonfinancial Corporations Relative to Cash Flow Companies have significant cash flow to cover their debt obligations. Image: LPL Financial LLC
Financial Stocks vs. Financial Bonds and 5-Year U.S. Treasury Bond Financial stock outperformance tends to track 5-year rates. Image: BofA Global Investment Strategy
U.S. Private Sector Financial Assets % of GDP This chart highlights the obvious disconnect between Main Street and Wall Street, as the value of U.S. financial assets is 6.0 times the size of U.S. GDP. Image: BofA Global Investment Strategy
Japanese Equities, Ex-Financials, Since 1980 Japanese equities, ex-financials, have had a very honorable past decade. Are Japanese equities still a good bet? Image: Gavekal, Macrobond
S&P 500 Financials Index/S&P 500 Index and ISM Manufacturing PMI The ISM Manufacturing PMI suggests that the financials’ rally should continue. Image: Morgan Stanley Wealth Management
S&P 500 Sectors (Tech, Consumer Dis., Financials and Energy), Increase in Market Value Are tech sector valuations a cause for concern? Image: Financial Times