Margin Debt as Percentage of Real Disposal Personal Income Margin debt sits at a record share of real disposable income. With incomes stagnating and borrowing surging, investors look vulnerable. Markets appear calm, for now, but…
S&P 500 Aggregate vs Median Earnings Growth S&P 500 earnings rose 14.5% year-on-year in Q4 2025, exceeding initial estimates and marking the strongest quarterly gain in four years as profit growth broadened across sectors. Image:…
Performance – MSCI U.S. vs. All Country World ex. U.S. Ratio and Trend After nearly a decade of U.S. stocks trouncing global peers, international markets have finally turned the tables, making home bias look increasingly…
MSCI AC World EPS Analysts, emboldened by a firmer global growth backdrop, have pushed up MSCI AC World EPS forecasts for 2026, seeing technology and AI as key drivers of productivity. Image: Goldman Sachs Global…
S&P 500 Intra-Year Declines vs. Calendar Year Returns Investors stomach average yearly pullbacks of around 14%, but the S&P 500 still closed higher in 35 of the past 46 years. Volatility, after all, is the…
Number of U.S. IPOs Wall Street is about to wake up again. After a sluggish stretch, the U.S. IPO machine is set to roar back to life in 2026, with some 120 deals tipped to…
Valuation Percentile for Equity, Credit and Bond Valuations matter more over the medium term than in the moment. In years like 2025, robust growth let markets climb anyway, powered by rising profits despite high price…
U.S. Real Retail Sales and Recession U.S. real retail sales stand at -0.22% YoY. About 70% of U.S. GDP is personal consumption. In the past, U.S. real retail sales trended sideways before the recession began.
Global Sector Fund Flows Excluding Tech Sector funds outside Tech have drawn a record $62 billion in inflows over the first five weeks of the year, more than the total for all of 2025. The rush…
MSCI World Sector/Style Valuations With valuations running hot across sectors and styles, investors are turning more selective. Even so, a few pockets of value still glimmer beneath the surface. Image: Goldman Sachs Global Investment Research
S&P 500 Earnings Revision Breadth The relationship isn’t perfect, but S&P 500 EPS revision breadth has often led market moves, showing a strong historical link with the index’s six‑month trailing returns. Image: Goldman Sachs Global…