U.S. GDP vs. Current Activity Indicator (CAI)
U.S. GDP vs. Current Activity Indicator (CAI) This chart from Goldman Sachs suggests U.S. GDP estimate for 2020 and 2021. Image: Goldman Sachs Global Investment Research
S&P 500 (SPY) After Hours vs. Regular Trading Performance
S&P 500 (SPY) After Hours vs. Regular Trading Performance This year, market returns were achieved during regular trading hours. Buying the open (SPY) and selling the close: +16.9% YTD (for informational purpose only, not investment…
ETF Flows by Asset Type
ETF Flows by Asset Type As the chart shows, investors are finally buying equity ETFs again, but fixed-income remains the champ. Image: Arbor Research & Trading LLC
More than 90% of S&P 500 Index Components above their 50-Day Moving Average
More than 90% of S&P 500 Index Components above their 50-Day Moving Average The past 11 times that more than 90% of S&P 500 index components were above their 50-day moving average, the S&P 500…
Bitcoin: Currency or Asset Class? (Price and Volatility)
Bitcoin: Currency or Asset Class? (Price and Volatility) This chart puts into perspective the daily and annualized volatility of Bitcoin. Image: Goldman Sachs Global Investment Research
10-Year Annualized Stock Returns vs. Starting P/E Levels
10-Year Annualized Stock Returns vs. Starting P/E Levels Higher P/Es tend to lead to weaker long-term returns. Image: Credit Suisse
S&P 500 vs. Value Line Geometric Index (Median U.S. Stocks)
S&P 500 vs. Value Line Geometric Index (Median U.S. Stocks) The Value Line Geometric Index (median U.S. stock) has gone nowhere in 23 years! Image: BCA Research
Long/Short Hedge Funds Beta to Mega Cap Growth Stocks
Long/Short Hedge Funds Beta to Mega Cap Growth Stocks Hedge funds aren’t chasing the current market rally, as long/short hedge funds beta to the mega growth stocks is below historical average. Image: Deutsche Bank Asset…
Average Number of Retail Accounts Holding and Megacap Growth Stocks
Average Number of Retail Accounts Holding and Megacap Growth Stocks In the aftermath of the coronavirus pandemic, the number of retail accounts holding mega-cap growth stocks has surged overall. Image: Deutsche Bank Asset Allocation
Unemployment Rate Forecast
Unemployment Rate Forecast Goldman Sachs expects the U.S. unemployment rate to reach 25% in Q2, a much higher peak than in other advanced economies. Image: Goldman Sachs Global Investment Research
CPI vs. Conference Board Inflation Expectations
CPI vs. Conference Board Inflation Expectations Coordinated monetary and fiscal easing should lift inflation higher in this cycle. Image: Pantheon Macroeconomics