Performance – Prices for Precious Metals Should investors buy rhodium? Rhodium prices are soaring amid tight supply. Image: The Wall Street Journal

Global GDP Forecast – Return to Pre-COVID-19 GDP Path Morgan Stanley expects global GDP to return to pre-COVID-19 GDP path by 2Q21. Image: Morgan Stanley Research

Volatility Divergence – VIX and MOVE The volatility divergence between VIX and MOVE remains elevated. Image: Gavekal, Macrobond

MSCI Global Alternative Energy and S&P 500 Energy Index Alternative energy stocks have risen 69% YTD, but traditional energy stocks have fallen 37%, while 85% of energy still comes from fossil fuels. Image: J.P. Morgan…

Returns in the S&P Global BMI (Broad Market Index) Since 1995 Market returns in November were very high. Could investors see a Santa Claus rally? Image: S&P Dow Jones Indices

Global Equity Fund Flows Since 2019 This chart puts into perspective inflows to global equity funds in November. Image: Goldman Sachs Global Investment Research

China – Renminbi vs. Major Currencies The renminbi rallies substantially on China’s economic recovery. Image: Gavekal, Macrobond

U.S. 10-Year Bond Yields Around Bear Markets Low and anchored bond yields during the recovery help to explain the strong rise in equity valuations. Image: Goldman Sachs Global Investment Research

Gold Price – Worst Month in Four Years Gold continues to fall out of favour on vaccine optimism. Image: Financial Times

U.S. Equity Risk Premium and VIX The U.S. equity risk premium remains above its long-term average, but the risk-adjusted return of equity has dropped below its long-term avearge this year. Image: Societe Generale Cross Asset…

Growth vs. Value – MSCI Indices Value stocks are likely to benefit the most from the economic recovery. Image: Goldman Sachs Global Investment Research