Breakdown of Household Equity and Mutual Fund Ownership by Generation Baby boomers control a substantial proportion of the U.S. equity market. Image: Goldman Sachs Global Investment Research
Inequality – Intergenerational Earnings Elasticity and Gini Coefficient Chart suggesting that social mobility cannot be achieved without greater equality (R² = 0.5) Image: Financial Times
Inequality – Income Mobility Across Generations In the United States, it takes five generations for individuals born in low-income families to reach the mean income in society. In Danemark, it takes “only” two generations. Image: Deutsche Bank Global Research
Demographics – Dow Jones and Generational Peaks This chart shows that generational peaks are associated with major market tops. GenX peaked in 2018 and Millennials don’t peak until 2038. Image: Fundstrat Global Advisors, LLC
Top Five Companies % of S&P 500 Market Capitalization The S&P 500 is experiencing unprecedented levels of concentration. While the concentration presents potential risks, the fundamentals of the top 5 companies remain strong, with elevated profit margins and robust cash flow generation. Image: Deutsche Bank
Big Tech Capex Outlook A once-in-a-generation shift is underway with the current AI-driven capex boom. Hyperscalers are spearheading this transformation with enormous investments in AI infrastructure, with spending expected to reach $340 billion this year. Image: Deutsche Bank
Elections – U.S. Voting Age Population Younger generations, specifically Millennials and Generation Z, are projected to become the new majority voting bloc in the upcoming 2024 U.S. presidential election, marking a significant generational shift in the electorate. Image: BofA Global Investment Strategy