Number of Executive Orders Issued by President Annually President Biden has signed executive orders at a record pace. Image: J.P. Morgan

Goldilocks Consensus (Above-Trend Growth and Below-Trend Inflation) Goldilocks consensus has peaked in January, as only 41% of fund managers expect lower inflation and higher growth. Image: Bloomberg

S&P 500 Rally in Comparison with Rallies in 1929, 1938, 1974 and 2009 The current rally is the greatest of all time U.S. stock market rally. Image: BofA Global Investment Strategy

Small Caps vs. Large Cap Relative Performance Is a new small cap outperformance cycle beginning? Image: BofA US Equity & Quant Strategy

GWIM Emerging Markets ETF Flows BofA private client ETF inflows to emerging markets have accelerated sharply over the last four weeks. Image: BofA Global Investment Strategy

Bubbles and Bitcoin – Trough to Peak Price Moves (%) Within 3 Years of the Highs for Selected Assets Through History Bitcoin is around half of the tulip bubble in 1637. Image: Deutsche Bank Click…

S&P 500 Performance When a New President is in Office After the presidential inauguration in the U.S., market weakness is expected in February. Image: LPL Research

Nasdaq Composite/Russell 2000 Ratio Should investors expect the start of a long reversal? Image: The Daily Shot

Core PCE Inflation and 5-Year, 5-Year Forward Breakeven Inflation Rate Are inflation expectations too high? Image: Alpine Macro

Valuation – 10-Year Government Bond Yield (U.S. and Italy, Advanced by 3-Months) and World Equities 12-Month Forward PE (Leading Indicator) The low levels of government bond yields help to explain the world’s stock market valuation.…

U.S. Dollar and Presidential Inaugurations After U.S. presidential inaugurations, the U.S. dollar tends to rise on average. Image: Nordea and Macrobond