Author: isabelnet

Equity Risk Premium – Change in ERP vs. 24-Month Lows Will the equity risk premium rise in 2023 as a U.S. recession is likely? Image: BofA US Equity & Quant Strategy

Market Capitalization as % of S&P 500 Should investors underweight the tech, communications services and consumer discretionary sectors? Image: BofA Research Investment Committee

Housing Market – U.S. Housing Starts U.S. housing starts drop in October amid rising mortgage rates. Image: The Daily Shot

Recession – U.S. Real GDP and Financial Conditions Index (Leading Indicator) Financial conditions tend to lead U.S. real GDP by 3 months. Image: Alpine Macro

FMS Tech Net Allocation Bye-bye tech? Tech net allocation fell to the lowest level since August 2006. Image: BofA Global Fund Manager Survey

FMS Investors and Equities – Absolute Net % OW FMS investors remain bearish on stocks. Image: BofA Global Fund Manager Survey

Fed Pause Before a Recession Fed pauses tend to be positive for stocks, but Fed cuts are negative before a recession. Image: Morgan Stanley Research

S&P 500 Forward 12-Month Price Targets Morgan Stanley expects the S&P 500 to reach 3,900 by year-end 2023 (base case scenario). Image: Morgan Stanley Research

Performance vs. S&P 500 by Uses of Cash U.S. companies that spend the most cash on dividends and buybacks have outperformed the S&P 500 since 1992. Image: Goldman Sachs Global Investment Research

S&P 500 / U.S. Aggregate Bond Index Total Return Will bonds outperform stocks in 2023 as U.S. growth slows further? Image: Morgan Stanley Research

Mega-Cap Tech Earnings Yield Gap How long will the mega-cap tech earnings yield gap vs. 10-year UST remain below the historical average? Image: Goldman Sachs Global Investment Research