S&P 500 Ex. Financials – Net Leverage and Interest Coverage Since the Global Financial Crisis, there has been a sharp increase in the median S&P 500 stock’s leverage ratio, a trend that could have substantial…
Valuation – 12-Month Forward STOXX Europe 600 PE European stocks look less expensive than at the beginning of this year. Image: Goldman Sachs Global Investment Research
Valuation – S&P 500 Based on Rule of 20 According to the historically reliable “Rule of 20,” the market is fairly valued when the P/E ratio plus the inflation rate equals 20. By this measure,…
U.S. High Yield Credit Spreads and Recessions U.S. high-yield credit spreads in May 2025 show little evidence of recession fears, remaining well below the levels seen during previous downturns. Image: Deutsche Bank
S&P 500 Index and Moving Average Crossover Signal Using moving average crossovers-particularly on a weekly basis-can be a valuable tool for investors looking to manage risk in their equity portfolios. Image: Real Investment Advice
S&P 500 Performance After >19% in 27 Trading Days This is more than just another bear market rally, as the S&P 500 has jumped over 19% in 27 trading days. Historically, since 1950, similar rallies…
Median S&P 500 Performance Around Drawdowns Close to or Larger than 20% Since 1950 In the absence of recession, short-lived market drawdowns are often followed by strong recoveries, offering attractive returns to investors who stay…
S&P 500 Index and 200-Day Moving Average Regaining the 200-day moving average is a constructive technical signal for the S&P 500 index, as forward returns tend to be positive more often than not. Image: Bloomberg
S&P 500 Performance After >58% of Components Make a New 20-Day High More good news for bulls: Since 1976, the S&P 500 has gained an average of 18.7% in the 12 months after more than…
U.S. vs. Non-U.S. Equity and U.S. vs. Europe Equity and Real Trade-Weighted US Dollar Index The start of 2025 marks a significant pause-and possible reversal-in U.S. equity exceptionalism. Whether this is a temporary pause or…
Equity Fund Flows U.S. vs. Rest of the World Over the past four weeks, U.S. equity funds have experienced substantial outflows, while equity funds in other regions have recorded inflows, indicating a shift in global…