Sector Weights in the S&P 500
Sector Weights in the S&P 500 U.S. defensive sectors, excluding pharma and biotech, remain near their lowest share of the S&P 500 since 1990, even after a tech-led rotation nudged investors to trim some of…
Factset S&P 500 Annual Bottom Up EPS Actual and Estimates
Factset S&P 500 Annual Bottom Up EPS Actual and Estimates Forecast upgrades for 2026 and 2027 keep rolling in, giving the S&P 500 another reason to push higher. The bulls still have the wind at…
Valuations – 12-Month Fwd P/E Multiple. Worldscope Europe Sector Indices
Valuations – 12-Month Fwd P/E Multiple. Worldscope Europe Sector Indices If you look at today’s valuation at 16.8x P/E and consensus revenues growth at around 9% annually, the risk of a slowdown in Software &…
Nasdaq After the Netscape IPO and ChatGPT Came Out
Nasdaq After the Netscape IPO and ChatGPT Came Out It’s not unusual for U.S. tech to lag in the third year after a big innovation, with the post‑Netscape years offering a perfect textbook case. Image:…
Valuation – Software Forward P/E
Valuation – Software Forward P/E Software valuations have come under heavy pressure, with the forward P/E multiple sliding to 20 times, a level investors haven’t seen since 2014. Image: Goldman Sachs Global Investment Research
S&P 500 Growth vs. Value – Relative Total Return
S&P 500 Growth vs. Value – Relative Total Return Value is back in favor to start the year, as lofty valuations keep investors on edge. Still, growth could stage a comeback if earnings deliver some…
Net Monthly Flows of U.S. Spot Bitcoin ETFs
Net Monthly Flows of U.S. Spot Bitcoin ETFs Since the reversal in October 2025, institutions have cut billions in Bitcoin holdings month after month, an indication of fading appetite and a darker mood across crypto…
Gold as a Share of Total Central Bank FX Reserves
Gold Price vs. Gold Composite FX Breadth Indicator Gold’s role is shifting: it’s no longer just a safe haven but a cornerstone of monetary stability as central banks keep adding to their reserves in an…
Bitcoin, Gold and S&P 500’s Performance
Bitcoin, Gold and S&P 500’s Performance Bitcoin has lost some ground lately, but at about 370% above its early‑2023 lows, it looks less like a speculative bet and more like a market finding its footing.…
Bitcoin Drawdown
Bitcoin Drawdown Volatility persists, but Bitcoin’s drop of more than 40% from its October peak looks more like a typical correction than a structural breakdown. In most markets that would be a crash; for Bitcoin,…
Drawdowns from 52-Week Highs for Selected U.S. and Related Stocks
Drawdowns from 52-Week Highs for Selected U.S. and Related Stocks Investors aren’t buying every U.S. tech name anymore. The market is picking clear winners and leaving the rest behind, particularly in AI-related stocks. Image: Deutsche…