Social Immobility vs. Income Inequality Countries with higher levels of income inequality have higher rates of social immobility. Will income inequality in the United States continue to worsen? Image: BCA Research
Net Income Contribution by Sector to S&P 500 This chart shows the net income contribution by sector to the S&P 500 over time. Image: Goldman Sachs Global Investment Research
Funds Flow – Fixed Income and Equities Fixed income funds continue to recover, but equity funds experienced 22 weeks of outflows this year. Image: BofA
U.S. Personal Disposal Income Growth vs. U.S. GDP Growth Morgan Stanley is bullish on U.S. market, as personal disposable income growth is at record levels. Image: Morgan Stanley Research
S&P 500 Cash Return Payout Ratios (% of Net Income) S&P 500 payout ratio is in secular decline, as S&P 500 companies shift to buybacks. Image: Goldman Sachs Global Investment Research
Funds Flows – Fixed Income and Equities Funds flows across fixed income and equities continued to slow for a third week. Image: BofA Global Research
United States Corporate Income Tax Rate and Median S&P 500 Company Effective Rate According to Goldman Sachs, the effective S&P 500 tax rate could lift to 26%, if Democrats win the presidency and the Senate in November. Image: Goldman Sachs Global Investment Research
Saving – Household Spending as % of Disposable Income and 10-Year Treasury Yield As the chart shows, lower yields force households to save more (hyper-globalization 2001-2020). This is a vicious cycle, as forced saving depresses demand. Image: BofA Research Investment Committee
Housing – U.S. Median Famility Income to Mortgage Cost This chart suggests that relative to family incomes, buying a home in the U.S. is currently quite affordable by historical standards. Image: Gavekal, Macrobond
Global Cumulative Weekly Flow: Fixed Income vs. Equities This chart highlights once again investors’ strong preference for bonds. Image: BofA Global Research