Bubbles and Bitcoin – Trough to Peak Price Moves (%) Within 3 Years of the Highs for Selected Assets Through History Bitcoin is around half of the tulip bubble in 1637. Image: Deutsche Bank Click the Image to Enlarge
Brent Crude Oil Prices – Forecast vs. Forwards BofA expects brent crude oil prices to average $50/bbl in 2021. Image: BofA Global Commodity Research
Gold Prices – Forecast vs. Forwards Will the bull market in gold continue? BofA expects gold prices to reach new highs to US$2,200/oz in Q3 2021. Image: BofA Global Research
Sensitivity of S&P 500 Price to Real Rates and Breakeven Inflation Goldman Sachs expects breakeven inflation will continue to rise. The year-end S&P 500 price targets of 4300 this year and 4600 in 2022 remain unchanged. Image: Goldman Sachs Global Investment Research
Inflation – U.S. Consumer Price Index and ISM Manufacturing Prices Index (Leading Indicator) ISM manufacturing prices tend to lead headline inflation. Image: Morgan Stanley Wealth Management
Growth Stocks – FAANG and S&P 500 Ex-FAANG Price-to-Sales In general, higher rates mean headwind for growth stocks. Image: BofA US Equity & Quant Strategy
Price of Oil Forecast Goldman Sachs remains bullish on oil prices, forecasting $63 oil in 2021 and expecting a recovery in global oil demand. Image: Goldman Sachs Global Investment Research
Valuation – Shiller Cyclically Adjusted Price/Earnings Ratio Over the last 100 years, stock market crashes have tended to follow liquidity-fueled booms. Image: Morgan Stanley Wealth Management
Performance – MSCI Indices – Global Stock Prices Are global tech stocks still attractive in 2021, after the massive run this year? Image: Financial Times
Price of Bitcoin Relative to Gold Bitcoin has advanced about 270% in 2020. Image: Bloomberg