Oil Price vs. 10-Year Breakeven Inflation The collapse in the price of oil is creating a disinflationary risk. Image: Piper Sandler

% of Zombie Companies in Russell 3000 Equivalent The number of zombie companies in the United States is growing, due to the government’s response to the coronavirus crisis. Image: Financial Times

Advanced Economies Debt/GDP The coronavirus pandemic could bring the debt-to-GDP ratio of advanced economies to World War II levels. Image: Deutsche Bank

Relative Performance of U.S. Financials vs. S&P 500 U.S. financials have underperformed dramatically the overall market. Are they still a value trap? Image: Morgan Stanley Research

Valuation – Consensus FY2 P/E Multiple – Information Technology vs. S&P 500 S&P 500 valuations remain high, particularly info tech stocks. Image: Goldman Sachs Global Investment Research

Volatility – Nasdaq 3-Day Sigma Move Is the selloff over for now? Image: BofA Global Research

Seasonality – Average of S&P 500 Return Per Calendar Month Historically, August and September have been challenging for the S&P 500. Image: Goldman Sachs Global Investment Research

S&P 500 YTD Returns by Credit Rating Chart showing the impact of credit ratings on stock returns since the beginning of the year. Image: BofA Research Investment Committee

Flows into Global Tech Equity Funds Investors rush into tech, as they become more bullish. Image: Goldman Sachs Global Investment Research

Nasdaq Volatility As the chart shows, the volatility of the Nasdaq has been particulary high. Image: Goldman Sachs Global Investment Research

S&P 500 EPS vs. U.S. NIPA Corporate Profits This chart puts into perspective the wide divergence between S&P 500 EPS and U.S. NIPA corporate profits. Image: BofA Research Investment Committee