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 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 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 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 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 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 There is a risk of a short squeeze, as betting against the dollar is looking like a crowded trade. Image: Bloomberg
Cash Allocation Percentile vs. History Cash allocations are going down and could suggest more upside for stocks. Image: Goldman Sachs Global Investment Research
Year-to-Date Performance – S&P 500 vs. Russell 2000 The Russell 2000 index has lagged the S&P 500 year-to-date, as many small-cap stocks are missing the party. Image: Financial Times
Coronavirus – Daily Deaths from COVID-19 in the U.S. and Currently Hospitalized due to COVID-19 Both of these graphs show encouraging signs in the United States, as the growth in new COVID-19 cases continues to…
Bank Loans and Bank Lending Standards According to BofA, banks won’t lend, as nearly three-quarters of loan officers reported tighter bank lending standards in the second quarter. Image: BofA Global Investment Strategy