Performance – Zoom vs. Uber Price Relative and U.S. Daily COVID-19 Cases Will the outperformance of lockdown stocks vs. reopening stocks continue amid Delta variant worries? Image: BofA Global Investment Strategy
S&P 500 Index Operating Cash Flow as a Percent of Market Capitalization Market fragility remains elevated. Cash flow as a percent of market cap is close to the dotcom bubble low. Image: Morgan Stanley Wealth…
Flows to Treasury Bond ETF U.S. Treasury bond technicals are extreme. Image: Morgan Stanley Wealth Management
Financials vs. S&P 500 and U.S. 10-Year Treasury Yields The relative performance of U.S. banks tends to track U.S. 10-year Treasury rates. Rising bond yields would be good news for financial stocks. Image: Topdown Charts
Breadth – % of Stocks in Nasdaq Above 50-Day Moving Average Is it time to reduce exposure to tech stocks, as the Nasdaq breadth has not matched the rise in the index? Image: Morgan Stanley…
Returns – S&P 500 Index and Crowded Names The gap between the S&P 500 Index and crowded names has been widening since 2020. Image: Morgan Stanley Wealth Management
S&P 500 Index and U.S. Corporate High Yield Average OAS Is the divergence between high yields and the S&P 500 index an early sign of tapering? Image: Nordea and Macrobond
Returns for Portfolio of 25% in Global Equities, Bonds, Commodities, Cash A diversified portfolio of 25% in global equities, bonds, commodities and cash is annualizing a 16% return, well above the historical average. Image: BofA…
U.S. 10-Year Treasury Yield and Industrial Metals/Precious Metals Index Historically, U.S. rates tend to rise when growth is strong, as it is today. Image: Morgan Stanley Wealth Management
Mention of “Optimistic” or “Optimism” on S&P 500 Earnings Calls by Quarter S&P 500 companies are becoming less optimistic. Image: BofA US Equity & Quant Strategy
Velocity of M2 Money Stock in the U.S. vs. The U.S. Deficit The rise in the U.S. deficit has coincided with a collapse in M2 velocity. Image: Real Investment Advice