Valuation – Relative P/E High vs. Low Dividend Yield Stocks This chart suggests that stocks that pay large dividends haven’t been so cheap since around 1980, relative to low dividend yield stocks. Image: Goldman Sachs…
House Prices Around Europe Chart showing house prices around Europe since the Great Financial Crisis. House prices in Norway and Sweden have been on a high rising trend. Image: Jeroen Blokland
World Equities and U.S. 10-Year Treasury Yield Chart suggesting that the round trip in U.S. Treasury yields explains the round trip in stock market valuation. Image: Financial Times
Long-Term U.S. Dollar Cycles This chart shows bear and bull cycles in the U.S. dollar. Will the U.S. dollar enter a bear market? Image: Alpine Macro
Steepness of VIX Curve vs. S&P 500 This chart suggests a warning sign for the S&P 500. Image: Longview Economics
S&P 500 Forecast for 2020 Goldman Sachs forecasts a price-target for the S&P 500 at 3400 by year-end 2020, and a downside scenario at 2600 depending on tariffs and the US election result. Image: Goldman…
Number of U.S. Listed Stocks and Average Age of U.S. Listed Stocks The U.S. stock market is shrinking. The number of firms listed on U.S. stock exchanges has fallen by nearly 50% since 1996. Image:…
U.S. Dollar Debt in Emerging Markets This chart shows the wall of dollar debt in emerging markets over the next decade. Image: Financial Times
EUR/USD and Differential in Balance Sheet Growth Fed – ECB Chart suggesting that differentials in balance sheet growth between the Fed and the ECB have pushed the U.S. dollar higher. Image: BofA Merrill Lynch Global…
U.S. Corporate Leverage U.S. corporate leverage is high and close to its previous peak on a net debt to EBITDA. Image: Goldman Sachs Global Investment Research
Global Equities vs. Global Manufacturing PMI Chart suggesting that market participants expect global manufacturing PMI to rebound strongly. Image: Topdown Charts