S&P 500 vs. Zombie Companies Zombie companies have outperformed the S&P 500 by a wide margin in April and May. The process of creative destruction is not taking place, thanks to the Fed and the…

Sentiment – CBOE Put/Call Ratio and S&P 500 Index The put/call ratio suggests that investors are complacent. Image: Bloomberg

Inflation and Capacity Utilization This chart suggests that inflation will not be a problem for many years, as economists watch capacity utilization indicators for signs of inflation pressures. Image: Deutsche Bank Global Research

S&P 500 with NYSE 90% Up Days Historically, S&P 500 returns after an NYSE 90% up day are positive 80% of the time after 20 days. Image: BofA Global Research

Asset Allocation: Global Bonds FMS investors are still more bearish than bullish. Image: BofA Global Fund Manager Survey

FY2 P/E Premium of Sector-Neutral Valuation Quintiles Relative to S&P 500 Median This chart shows S&P 500 sector valuations compared with their historical distribution since 1990. Image: Goldman Sachs Global Investment Research

S&P 500 – 2020 vs. 2009 This chart suggests that the S&P 500 is following the 2009 pattern and market breadth. Image: Morgan Stanley Research

Coronavirus Survey: When Do You Think the First Working Vaccine for COVID-19 Will Be Available? A majority market professionals think that the first working vaccine for COVID-19 will be available within 6-18 months. Image: Deutsche…

Size of Selected U.S. Asset Markets This chart puts into perspective the size of selected U.S. asset markets. The U.S. stock market is more than twice as large as the U.S. Treasury market. Image: Deutsche…

S&P 500 Equity Risk Premium – 2020 vs. 2009 Same equity risk premium in March 2020 as March 2009, but 30% higher P/E thanks to the level of rates. Image: Morgan Stanley Research

Secular Bull and Secular Bear Markets This year could be similar to 1957 and 1987, suggesting that the secular bull market is still intact for the time being. Image: BofA Global Research