U.S. Active Fund Managers vs. Benchmarks It is hard for active fund managers to beat their benchmarks over the long term. Image: Financial Times

U.S. Recession Chances The recession probability model developed by Bloomberg economists now shows 26% chance of recession within 12 months. Image: Bloomberg

Value Stocks vs. Low Volatility Stocks Chart showing the large divergence between value stocks and low volatility stocks, like never before. Image: J.P. Morgan

U.S. Federal Budget Deficit by Month U.S. federal budget deficit surges to $134.5 billion in October. Image: Oxford Economics

U.S. 10-Year Treasury Yield and Euro Area Cyclicals Relative to Defensives Chart suggesting that euro area cyclicals outperform defensives, when U.S. bond yields rise. Image: Credit Suisse Research

Inequality – The Global Wealth Pyramid The level of wealth inequality is high in 2019: the richest 10% of adults own 82% of global wealth, while the bottom half of adults account for less than…

S&P 500 Return A Year Later Off The Midterm Election Lows A year after the midterm lows, the S&P 500 is up 32% on average. History also shows that the S&P 500 has been higher…

Valuation – S&P 500 Forward Price-to-Earnings Is the S&P 500 valuation stretched? Valuations are currently the highest since early 2018. Image: Truist

FMS Global Yield Curve Expectations vs. U.S. Large/Small Cap Price Relative History suggests that U.S. small cap stocks outperform large cap stocks, when the yield curve steepens. Image: BofA Merrill Lynch Global Fund Manager Survey

S&P 500 Total Return, Adjusted for Inflation, in Three Years After Initial Election The stock market performance, adjusted for inflation, in first three years since Trump’s election is quite good. Image: Bloomberg

VIX Level and S&P 500 New Highs The VIX level when the S&P 500 reached new highs for the first time is rising. Image: Goldman Sachs Global Investment Research