Expensive Stocks and Fed Balance Sheet Are expensive stocks vulnerable to Fed tapering in 2022? Image: Morgan Stanley Research

Markets – Equity Risk Premium and Real 10-Year U.S. Treasury Yield The similarities between today and the tech bubble make BofA bearish on 2022. Image: BofA US Equity & Quant Strategy

U.S. Cycle Indicator The KKR’s U.S. cycle indicator from KKR is still in the mid-cycle expansion phase. Image: KKR & Co.

S&P 500 Index Returns and Santa Claus Rally Historically, a bearish Santa Claus rally does not tend to bode well for January and the full year. Image: LPL Research

ISM YoY and U.S. 2+10-Year Bond Yield YoY (Leading Indicator) The U.S. 2+10-year bond yield YoY (inverted) tends to lead the ISM YoY by 18 months, suggesting that the growth momentum is expected to fade…

U.S. 10-Year Treasury Yield and Equities: Back to Work / COVID-19 Winners The U.S. 10-year Treasury yield tends to track the pandemic trade. Image: BCA Research

Economic Growth vs. M2 Velocity The decline in economic growth has coincided with a collapse in M2 velocity Image: Real Investment Advice

S&P 500 Index 3-Day Average Returns Are U.S. equity investors ready for a Santa Claus rally this year? Image: LPL Research Click the Image to Enlarge  

China’s Credit Impulse as % of GDP Investors should be pleased as Chinese credit impulse is expected to rise. Image: Morgan Stanley Research

Money Market Funds Assets as a % of Global Equity Market Capitalization Cash has been rising in the last few months but remains low as a % of global equity market capitalization. Image: BofA Global…

Markets – Financial Conditions, Global Manufacturing, PMI, S&P 500, U.S. Dollar, 10-Year UST Yield and Fed Fund Rates Should investors brace for tighter financial conditions in 2022? Image: BCA Research