Valuation – MSCI Europe 12-Month Forward P/E
Valuation – MSCI Europe 12-Month Forward P/E Valuation is back to pre-pandemic levels for European stocks. Image: Deutsche Bank Asset Allocation
Valuation – MSCI Europe 12-Month Forward P/E Valuation is back to pre-pandemic levels for European stocks. Image: Deutsche Bank Asset Allocation
FMS Investors – Net % Thinking Late-Cycle Are the conditions for a late cycle met? Image: BofA Global Fund Manager Survey
Valuation – S&P 500 12-Month Forward P/E Ratio and 2-Year U.S. Treasury Yield Historically, rising rates tend to compress S&P 500 valuation multiples. Image: Alpine Macro
10-Year Government Bond Yield Will global 10-year government bond yields continue to rise? Image: Morgan Stanley Wealth Management
Total Equity Flows Minus Bond Flows and U.S. 10-Year Yield Will the rotation in fund flows from bonds to equities continue? Image: Deutsche Bank Asset Allocation
Cash to Liabilities Ratio – Households, Corporations and Banks in the U.S. How much cash is still waiting to come back to the U.S. stock market? Image: Gavekal, Macrobond
Commodities – Commodity Index Recoveries Through Every Business Cycle This is the quickest recovery in commodities since 1914. Image: Deutsche Bank
Scenario Analysis Around Baseline S&P 500 Price Target Goldman Sachs’s baseline forecast for the S&P 500 at the end of 2022 is 4,900. Image: Goldman Sachs Global Investment Research
Tech – Market Capitalization of Global Sectors Will technology’s market capitalization continue to outpace banks and energy? Image: Goldman Sachs Global Investment Research
Sentiment – AAII Bull Readings vs. Cumulative 8wk Equity Flows Investor sentiment has fallen to the lowest level since August 2020, which is contrarian bullish. Image: BofA Global Investment Strategy
Asia Pacific EPS Growth Forecasts after the Fed Starts Tightening Equity markets in Asia tend to decline in the 12 months following the start of Fed tightening. Image: BofA Global Quantitative Strategy