Percentage of Countries with Manufacturing PMIs Above 50 and 45
Percentage of Countries with Manufacturing PMIs Above 50 and 45 Manufacturing PMIs suggest that the worst is over in most countries. Image: Morgan Stanley Wealth Management
China vs. USA
China vs. USA The number of Chinese companies in the Fortune Global 500 now exceeds that of the United States. Image: BofA Global Investment Strategy
Utilities Dividend Yield Less 10-Year U.S. Treasury Yield
Utilities Dividend Yield Less 10-Year U.S. Treasury Yield Goldman Sachs upgraded utilities to outperform, as the utilities dividend yield is relatively high compared to the 10-year U.S. Treasury yield. Image: Goldman Sachs Global Investment Research
Performance – Industrials vs. S&P 500 and Global Current Activity Indicator (CAI)
Performance – Industrials vs. S&P 500 and Global Current Activity Indicator (CAI) Goldman Sachs upgraded industrials to outperform, as global economic growth is improving. Image: Goldman Sachs Global Investment Research
Valuation – Energy Sector Returns vs. Long-Term Oil Prices
Valuation – Energy Sector Returns vs. Long-Term Oil Prices Is the energy sector a relative bargain? Is the energy sector a relative bargain? Goldman Sachs is still “underweight” energy stocks. Image: Goldman Sachs Global Investment…
Gap Between S&P 500 Earnings Yield and U.S. Treasury Yield
Gap Between S&P 500 Earnings Yield and U.S. Treasury Yield This chart suggests that the S&P 500 looks attractive relative to bonds, as the spread between the S&P 500 earnings yield and the U.S. 10-year…
Performance – Information Technology vs. S&P 500 and Russell 1000 Growth vs. Value
Performance – Information Technology vs. S&P 500 and Russell 1000 Growth vs. Value Trees don’t grow to the sky, but so far, tech is the darling of the market. Image: Goldman Sachs Global Investment Research
MSCI World Median Correction and Recovery vs. Current Drawdown
MSCI World Median Correction and Recovery vs. Current Drawdown This charts shows a “beautiful V” and puts the current drawdown into perspective. Image: Ken Fisher, Fisher Investments
World vs. U.S. GDP Growth Forecast
World vs. U.S. GDP Growth Forecast World GDP is expected to grow faster than that of the United States. Image: Goldman Sachs Global Investment Research
KC Fed Labor Market Conditions Index and Recessions
KC Fed Labor Market Conditions Index and Recessions The KC Fed Labor Market Conditions Index is positive. Labor market conditions remain above their long-run average. Historically, a negative value is a necessary, but not sufficient…
U.S. Dollar and Short Positions
U.S. Dollar and Short Positions There is a risk of a short squeeze, as betting against the dollar is looking like a crowded trade. Image: Bloomberg