Rotation – US vs. non-US Equities, S&P Growth vs. Value, S&P Cyclicals vs. Defensives Is the rotation into value, cyclicals and non-US equities inevitable? Image: J.P. Morgan
Rotation vs. U.S. GDP Growth Forecasts Chart suggesting that the rotation out of bonds into equities, out of growth into cyclicals, out of large caps into small caps, and out of gold into copper, is expected to continue in 2020. Image: Fidelity Investments
Momentum to Value Rotation The rotation into value suggests a rebound in global economic growth, not a recession. Image: BofA Merrill Lynch US Equity & US Quant Strategy
Rotation from U.S. Stocks to Rest-of-World The rotation from U.S. stocks to cheaper global stocks continues, reaching $123 billion recently. Image: BofA Merrill Lynch Global Investment Strategy
Rotation from Safe to Risky Assets The market is rotating. The chart clearly shows the big rotation taking place from “safe” to “risky” assets since mid-August 2019. Image: Goldman Sachs Global Investment Research
S&P 500 and Seasonal Rotation Strategy Sell in May and go away? This chart suggests that a rotation between defensive and cyclical sectors was a much better strategy Image: CFRA, S&P Global
Cumulative Flow into Global Equities and Bonds So far, there is no sign of a great rotation into stocks from bonds. Image: BofA Research Investment Committee
Equity Fund Flows Growth or value? Growth is racing ahead of value. This chart highlights the huge rotation in flows into secular growth funds. Image: Deutsche Bank Asset Allocation
U.S. High Yield Spreads vs. IG Spreads and Large Cap Growth Relative to Small Cap Value This chart suggests that new highs in stocks need high yield outperformance and sustained rotation from large cap growth to small cap value. Image: BofA Global Investment Strategy
S&P 500 vs. U.S. High Yield/High Grade and Large Cap Growth to Small Cap Value Charts suggesting that new highs in stocks need high yield outperformance and sustained rotation from large cap growth to small cap value. Image: BofA Global Investment Strategy