MSCI World Sector/Style Valuations Valuations are rich across sectors and styles, leaving investors with barely any cushion. In this market, even a small shift in sentiment can send prices sliding with little support below. Image:…
S&P 500 YoY EPS Growth The median S&P 500 company is set to deliver 12% EPS growth in Q2 2026, well short of the 26% surge forecast for the aggregate index. Image: Goldman Sachs Global…
Discretionary vs. Systematic Equity Positioning Systematic strategies sit in the 70th percentile and still overweight, while discretionary investors are stuck in the 17th percentile and firmly underweight, leaving ample room to add risk. Image: Deutsche…
New York Fed GDP Nowcast The New York Fed nudged its Q3 2026 U.S. GDP nowcast down to 2.24% from 2.52% a week earlier, a modest downgrade that leaves the broader growth story intact. Image:…
Risky vs. Safe Assets Fund Flows As confidence returns, cash is pouring into risk assets while safer funds sit on the sidelines, pointing to a robust appetite for higher-return bets. Image: Goldman Sachs Global Investment…
U.S. High Yield Credit Spreads vs. VIX High-yield spreads are pricing in a smooth ride. Spreads are tight, balance sheets look solid, and the risk is that confidence slips into complacency. Active monitoring helps catch…
Seasonality – S&P 500 Index Average Monthly Returns August and September have rarely been kind to U.S. stocks, posting some of the weakest average returns of the year. With July, normally a strong month, now…
ISM Manufacturing Index vs. S&P 500 Index U.S. manufacturing picked up speed in July. The ISM Manufacturing Index climbed to 55.6, beating expectations of 54 and notching a seventh straight month of expansion. Momentum is…
Equity Net Long Positioning – Leveraged Funds and Asset Managers Net Future Positions Leveraged funds and asset managers have piled into long S&P 500 futures, pushing net exposure to a record. That screams risk appetite,…
Valuations – S&P 500 12-Month Fwd P/E Multiple – Top 5 Largest Stocks vs. Other 495 Stocks After nearly a decade of commanding sky-high multiples, the five largest U.S. stocks have lost their valuation premium,…
S&P 500 Quarterly EPS Seasonally Adjusted S&P 500 earnings are running 14% above their nine-decade trend line. Any pullback toward the mean would make today’s rich valuations look fragile fast. Image: Deutsche Bank