World Equities Performance – Capital Intensive Companies vs. Non Capital Intensive Companies Equity markets tend to penalize capital-intensive companies. Image: Goldman Sachs Global Investment Research
Proportion of Growth Indicators Providing Bullish or Neutral Signal Markets are pricing in perfection, as 92% of BofA proprietary indicators are flashing bullish or neutral signals. Image: BofA Global Research
Value vs. Growth and Small Caps vs. Large Caps The rally in small caps is a strong bullish signal, but it has not yet been confirmed by a rebound in value vs. growth. Image: BofA…
Initial Public Offerings (IPOs) and Secondary Equity Offerings (SEOs) and S&P 500 Fwd 12-Month P/E – Leading Indicator Peaks in equity market issuance tend to precede peaks in S&P 500 P/E multiples. Image: BofA Research…
Rolling 10-Year Correlation of Real S&P 500 EPS Growth vs. Real U.S. and Global GDP Growth Real S&P 500 EPS growth tends to be more correlated to global than U.S. GDP growth. Image: BofA US…
Commodity, ISM Prices and Core PCE Price Index (Inflation) Commodities and manufactured goods tend to lead core inflation. Image: Morgan Stanley Wealth Management
Performance – Dividend Yield Secure yield tends to outperform in the long run. Image: BofA US Equity & Quant Strategy
Small Caps – Russell 2000 Distance from 200-Day Moving Average Is there is too much optimism built into small-caps? Image: Bespoke Investment Group
Volatility – VIX and Days Above 20 A prolonged VIX above 20 is typical of recessions. Patience is usually the key to successful investing. Image: Morgan Stanley Wealth Management
S&P 500 vs. Global Money Supply More global stimulus could be bullish for stocks, as global money supply growth tends to push U.S. equities higher. Image: Fidelity Investments
Average Change in 10-Year U.S. Yields by Months Since New Congress A unified government tends to lead to higher yields. Image: Deutsche Bank