U.S. ISM Manufacturing PMI vs. Philadelphia Fed General Activity vs. U.S. Empire State Manufacturing Survey Regional business activity surveys suggest a lower ISM Manufacturing PMI over the coming months. Image: Morgan Stanley Research
U.S. 10-Year Government Bond Yield Will the 10-year U.S. Treasury yield continue to rise? Image: The Daily Shot
FMS Investors – Net % Say They Are Overweight Commodities Relative to Bonds FMS investors are most underweight commodities relative to bonds. Image: BofA Global Fund Manager Survey
Active Global Equity Flows Outflows from active global equities persist. Image: BofA Global Investment Strategy
U.S. Recession – GDP Loss and S&P 500 Loss from Peak to Trough Should investors expect a mild U.S. recession in 2023? Image: Deutsche Bank
Returns – S&P 500 Growth vs. S&P 500 Value Should investors continue to overweight value vs. growth stocks? Image: Morgan Stanley Wealth Management
Inflation – U.S. CPI Projections As U.S. inflation is expected to decline, could the Fed be less hawkish in 2023? Image: J.P. Morgan
Central Bank Balance Sheets as a Share of GDP Will the reduction of central bank balance sheets increase pressure on financial markets in 2023? Image: J.P. Morgan
Performance – Industrials vs. S&P 500 Price Relative Will industrials outperform the S&P 500 in 2023? Image: BofA Global Investment Strategy
Valuation – Russell 1000 Growth vs. Russell 1000 Value Relative PE-to-Growth Should U.S. equity investors still continue to favor value over growth stocks? Image: BofA US Equity & Quant Strategy
Economic Composite Index vs. S&P 500 EPS YoY % Change U.S. economic activity is highly correlated with S&P 500 earnings growth. Should U.S. equity investors be worried? Image: Real Investment Advice