Performance – Early Cycle Sectors Relative to S&P 500 Should investors continue to underweight early cycle sectors during the mid cycle transition? Image: Morgan Stanley Research

U.S. Stocks – Percentage of All Sell-Side Ratings That Are Buy or Overweight Wall Street analysts are very bullish on U.S. stocks. Image: Financial Times

Households – Global Excess Savings Could excess savings drive global stock markets higher? Image: Goldman Sachs Global Investment Research

Net EUR Positioning Asset managers and non-commercial traders have decreased their net long positions in the euro. Image: Goldman Sachs Global Investment Research

Exchange Rate, Yen Per Dollar and 10-Year Real Yield, U.S. Less Japan The disconnect in real rates extends to the currency market. Image: Morgan Stanley Wealth Management

Federal Reserve Bank of New York Weekly Ecocomic Index and U.S. 10-Year Treasury Yield While the U.S. 10-year Treasury yield tends to follow the direction of macroeconomic indicators, it has decoupled from fundamentals. Image: Morgan…

Dow Jones Real Corporate Bond Yield The real yield on IG corporate bonds is now at its lowest since 1980. Image: BofA Global Investment Strategy

S&P 500 3-Month Seasonality Returns and Percentage of Time Up – Presidential Cycle Year 1 S&P 500 seasonality is more bearish in Presidential cycle year 1, from late summer into the fall. Image: BofA Global…

Average S&P 500 Index Performance the First Year of a New Party in the White House When a new party is in power in the White House, market weakness is expected in August and September.…

Velocity of M2 Money Stock in the U.S. Is there really an inflation threat? The surge in M2 money growth has coincided with a collapse in M2 velocity. Image: The Daily Shot

3-Month Change in Size of Fed Balance Sheet The Fed’s bank balance sheet has expanded considerably during the coronavirus pandemic. Image: Goldman Sachs Global Investment Research