Rolling 20-Week Correlations of the S&P 500 to the Usual Havens During this decade’s market shocks, traditional havens have too often failed to hedge, frustrating investors who assumed they would shield portfolios. The takeaway: diversification…
U.S. Broad Money (M2) After shrinking in 2022 and 2023, U.S. M2 growth has continued to expand. That’s good news for nominal spending and asset prices, but it also brings the familiar inflation question back…
Famous Market Bubbles: Peak-To-Trough Drawdowns Major market bubbles rarely fade quietly. Losses can be severe, and getting back to even can take years, sometimes decades, as leverage unwinds, valuations reset, and confidence takes a hit.…
Different Market Sentiment Indicators Volatility has cooled over the past month, and sentiment is still risk-on, but the market is far from euphoric, leaving room for more upside into earnings season. Image: Goldman Sachs Global…
Mega-Cap Growth & Tech Positioning Investors are piling back into mega-cap growth and tech, driving positioning up to the 79th percentile. Image: Deutsche Bank Asset Allocation
S&P 500 Implied Correlation The S&P 500’s growing dispersion is putting stock selection back in focus, with fundamentals doing the talking again. Image: Goldman Sachs Global Investment Research
S&P 500 Quarterly EPS For Q2 2026, analysts expect S&P 500 earnings to jump 22% from a year earlier, with tech once again doing almost all the work. The script hasn’t changed: technology remains the…
Fed Funds Rate The market’s baseline has shifted: traders see about 50 bp of Fed tightening over the next several months, something that would have been hard to believe in January. Image: Goldman Sachs Global…
GS Financial Conditions Index U.S. financial conditions have tightened slightly but remain broadly supportive, continuing to feed through to stronger consumer spending and business investment. Image: Goldman Sachs Global Investment Research
Crypto Fund Flows Crypto funds have endured persistent outflows over the past two months, with Bitcoin vehicles taking most of the selling pressure. Last week, however, inflows ticked higher, offering a small boost of optimism.…
S&P 500 and Trend Strength by Market Cap US small caps are leading the breadth picture, with 67% now trading above the 200-day moving average, the highest reading since 2021. That’s a healthy signal, but…