S&P 500 Historical FY2 EPS Revisions vs. Consensus EPS The good news is that consensus EPS estimates for both 2023 and 2024 are currently being revised upward, indicating positive expectations for future earnings performance. Image: BofA US Equity & Quant Strategy
S&P 500 Historical Earnings-per-Share (EPS) Consensus sees just -2% drop in S&P 500 EPS this year. Image: BofA Global Investment Strategy
Peak-to-Trough Declines in Historical Bear Markets Since 1929 A new bull market in U.S. stocks has officially begun, marking the end of the bear market. Image: BofA US Equity & US Quant Strategy
S&P 500 Total Return and Historical Inflation Peaks Historically, U.S. stocks tend to rise if there is no recession following an inflation peak. Image: Goldman Sachs Global Investment Research
Historical U.S. Inflation Episodes Is it the last U.S. inflation peak of this cycle? Image: BofA Research Investment Committee
Distribution of Historical Stock and Bond Returns U.S. stocks and bonds both have suffered significant losses since the beginning of the year. Image: Alpine Macro
Valuation – S&P 500 Historical P/E Ratio in Different Inflation Environments Should U.S. equity investors expect lower stock valuations, as U.S. core PCE remains elevated? Image: Guggenheim Partners
Historical Length of Recessions and Market Declines While Fed hiking rates is going to be a concern, can investors estimate the time until the next U.S. recession? Image: Real Investment Advice
Seasonality – Historical Average Performance of Europe Stoxx 600 Index So far, the Europe Stoxx 600 Index has not moved in line with its seasonal pattern. Image: BofA European Equity Quant Strategy
Interest Rates – Fed Funds Rate, Historical Forward Pricing and Forecast Are markets underpricing Fed rate hikes in 2023? Image: BofA Global Research