Alternative Measures of U.S. Consumer Activity U.S. consumer spending increased sharply over the last few weeks and is now above its pre-coronavirus level. Image: Goldman Sachs Global Investment Research
S&P 500 Number of Daily Drawdowns Greater Than 3% Last year, the S&P 500 had a very high number of daily drawdowns greater than 3%. Image: J.P. Morgan
Bull Market – IG + Tech Fund Flows and S&P 500 What will end the current bull market? Image: BofA Global Investment Strategy
YoY Absolute Change in U.S. Margin Debt and YoY % Change in S&P 500 Should investors be worried about the growth of margin debt? Image: Gavekal, Macrobond
Valuation – S&P 500 Index Current Percentile Ranking Relative to History S&P 500 valuation metrics are elevated by historical standards. Image: Morgan Stanley Wealth Management
Central Bank Liquidity and the Market Capitalization of Tech Stocks Central bank liquidity tends to push tech stocks higher. Image: BofA Global Investment Strategy
U.S. M1 Money Supply Growth vs. Steepness of U.S. Yield Curve The U.S. yield curve is expected to steepen as M1 money supply growth goes to the moon. Image: Longview Economics
U.S. Total Call Option Volumes for Stocks and Indices U.S. total call option volume for stocks and indices is continuing to soar. Will this end well? Image: Deutsche Bank
Non-Profitable U.S. Tech Companies The stock prices of non-profitable U.S. tech companies are at record highs. Should investors be worried? Image: Morgan Stanley Wealth Management
12-Month Moving Correlation of U.S. 10-Year Bond Yields to U.S. Stocks in USD The correlation between U.S. stocks and bond yields should soon become negative. Image: BCA Research
Hedge Funds and Systematic Investor Positioning Hedge funds and systematic investor positioning is low in a long-term historical context. Is any market pullback a buying opportunity? Image: J.P. Morgan Quantitative and Deratives Strategy