Performance – Growth vs. Value In periods of scarce growth, growth stocks have a tendency to outperform value stocks, whereas during times of plentiful growth, value stocks tend to outperform growth stocks. Image: Goldman Sachs Global Investment Research
Long Only Positioning in Value vs. Growth Value is still 53% underweight vs. Growth, highlighting a significant preference among investors for growth-oriented investments over value-based ones. Image: BofA US Equity & Quant Strategy
Returns – Value vs. Growth Value stocks tend to outperform growth stocks when considering a longer time frame. Image: BofA Research Investment Committee
10-Year U.S. Treasury Yield Macro Fair Value BofA’s macroeconomic framework suggests a fair value for the 10-year U.S. Treasury yield of 4.1%. Image: BofA Global Research
Relative Forward P/E of Russell 1000 Value vs. Growth Indices Should Value outperform Growth in the near future? Image: BofA US Equity & Quant Strategy
U.S. Dollar Index and Purchasing Power Parity Fair Value According to the measure of Purchasing Power Parity fair value, the U.S. dollar remains overvalued. Image: BCA Research
Oil – Brent Fair-Value Model J.P. Morgan expects Brent oil prices to exit the year at $86/bbl. Image: J.P. Morgan
S&P 500 Fair Value According to BofA, the fair value of the S&P 500 is 3,911 by year-end 2023 (bear case, based on the most bearish model). Image: BofA Global Research
U.S. Dollar DXY Index Deviation from PPP Fair Value and Subsequent 10-Year Annualized Return The U.S. dollar weakness is likely to persist. Image: BCA Research
FMS Investors – Net % Saying Gold Overvalued Is gold currently overvalued? Image: BofA Global Fund Manager Survey