Average U.S. Yield Curve Level and U.S. Recessions The U.S. yield curve is likely to steepen further. Image: Scotiabank GBM Portfolio Strategy

Nasdaq 100/Russell 2000 vs. Nasdaq 100/S&P 500 and CBOE Equity Put/Call Ratio Is Tech in a bubble? Image: Nordea and Macrobond

Forward Price/Earnings Ratio – MSCI USA Index and MSCI Emerging Markets Index Emerging markets look more attractive than the U.S. market on forward earnings. Image: Morgan Stanley Wealth Management

Largest Companies to Be Added to the S&P 500 Since the Mid-1990s Tesla is the largest company ever to join the S&P 500 index. Image: The Wall Street Journal

U.S. Treasury Yield Curve The U.S. Treasury yield curve is likely to steepen further in 2021, as expectations for tapering increase. Image: J.P. Morgan Asset Management

Copper Prices Relative to Gold Prices Copper looks cheap relative to gold. Image: Longview Economics

Median S&P 500 1-Month Return vs. Z-score of 1-Month Change in 10-Year Treasury Yields The S&P 500 tends to decline in a given month when 10-year Treasury yields rise sharply. Image: Goldman Sachs Global Investment…

Valuation – % of S&P 500 Stocks Oversold, Neutral, Overbought Chart suggesting that 46% of S&P 500 stocks are overbought. Image: MarketDesk Research

Bank Stock Performance During Previous Recessions Historically, bank stocks tend to outperform the S&P 500 in the year following a recession. Image: BofA Global Research

Commodity Spot Index Are commodities poised for a new bull market as a reflation play? Image: Bloomberg

S&P 500 Financials Index/S&P 500 Index and ISM Manufacturing PMI The ISM Manufacturing PMI suggests that the financials’ rally should continue. Image: Morgan Stanley Wealth Management