Alternative Measures of Consumer Activity Chart suggesting that activity is starting to pick up in the U.S., as lockdowns are easing after weeks of restrictions. Image: Goldman Sachs Global Investment Research
Yield Spread (Baa Bonds – Utility Dividends) Chart suggesting that utilities are cheap relative to Baa bonds. Image: Morgan Stanley
Cumulative S&P 500 Return Since February 12 Explained by Sevent Factors and the Residual This chart suggests that the S&P 500 is driven primarily by U.S. growth. Image: Goldman Sachs Global Investment Research
Top 5 Largest Constituents as Percent of Market Capitalization This charts highlights the extreme concentration of market cap in the U.S. and global emerging markets in the top five stocks. Image: Credit Suisse Research
Sector Breakdown of 164 Companies that Discussed Suspending Buybacks and/or Dividends Corporate share buybacks are declining amid the coronavirus pandemic. Image: Goldman Sachs Global Investment Research
U.S. Initial Jobless Claims and Google Trends on Unemployment Insurance Google trends on unemployment insurance suggest lower initial jobless claims. Image: Nordea and Macrobond
Expected Fed Funds Rate, Negative Interest Rates and 2-Year Treasury Yield Negative U.S. yields are in sight, as Fed funds futures for June 2021 imply an expected negative rate of -0.03%. Image: Fidelity Investments
Probability of Recovery: S&P 500 vs. Economic Data This chart shows the wide divergence between the S&P 500 and economic data. Image: J.P. Morgan
Quarterly Returns for All Public Pensions Plans Public pension plans lost a median of 13.2% in the first quarter of 2020. It was the lowest return in about 40 years. Image: Wilshire Trust Universe Comparison…
Fed Quantitative Easing (QE) and NTM P/E After the Fed launched quantitative easing (QE), history suggests that there is a positive correlation between QE and a rising stock market. Image: Fidelity Investments
FANGMAN Stocks Leading in Recovery An equal weight FANGMAN index is back at all-time highs. FANGMAN refers to Facebook, Amazon, Netflix, Google (Alphabet), Microsoft, Apple and Nvidia. Image: Richardson Wealth