Average Forward S&P 500 Return Conditional on ISM Manufacturing Index at Time of Investment When the ISM is above 60, like today, the return on the S&P 500 tends to be negative over the next…

S&P 500 Sectors’ Relative Performance Sensitivity to Real Rates Can higher rates boost financials by increasing profit margins? Image: BofA US Equity & Quant Strategy

S&P 500 Index Returns Based on Various Inflation Levels Historically, the S&P 500 has generated the highest returns in periods of low inflation. Image: LPL Research

Cumulative Flows into Factor ETFs Strong inflows into value factor since last November. How long will it last? Image: J.P. Morgan

U.S. IG Corporate Bond Quarterly Total Return Year-to-date, the quarterly loss in U.S. corporate bonds exceeds that of previous years, post-2008. Image: BofA Global Research

Valuation – World Technology 12-Month Forward Earnings Yield and 10-Year Treasury Bond Yield Plus 2.5 Tech stocks are less attractive, as the world tech 12-month forward earnings yield is still below the 10-year Treasury bond…

Tech Bubble – S&P 500 Information Technology and Small Cap Value Index Should investors expect small cap value stocks to soar and a repeat of the tech bubble burst? Image: Alpine Macro

Quarterly U.S. Real GDP Relative to Prerecession Path Is the U.S. economy on fire, as U.S. real GDP has recovered faster than normal? Image: Morgan Stanley Research

Small-Cap Stocks – Russell 2000 vs. S&P 500 The rally in small-caps is under pressure. Is it time to buy the dip? Image: The Daily Shot

S&P 500 Dividend Yield and U.S. 10-Year Treasury Yield The relative advantage that the S&P 500 dividend yield has held over the U.S. 10-year Treasury yield has completely disappeared. Image: Piper Sandler

U.S. Consumer Spending – Households Who Received Stimulus Payments and Households Who Did Not U.S. households who received stiumulus payments are feeling more confident about spending. Image: Quill Intelligence, LLC