U.S. 10-Year Treasury Yield – Monthly Chart The gradual approach of the U.S. 10-year Treasury yield towards the secular target carries significant implications for various sectors of the economy and financial markets. Image: BofA Global Research
S&P 500 % of Members Above 200-Day Moving Average A limited number of U.S. stocks driving market performance due to a lack of broad market participation can be problematic, potentially resulting in a less sustainable and robust market environment. Image: Morgan Stanley Research
S&P 500 Earnings Revisions Breadth vs. S&P 500 YoY With yields no longer supporting high valuations, earnings growth is expected to be the main factor driving U.S. equity returns in the near future. Image: Morgan Stanley Research
10-Year U.S. Treasury Yield The 10-year U.S. Treasury yield, which had experienced significant volatility and deviation from its pre-2008 trading range in the aftermath of the global financial crisis, has now reverted back to its previous levels. Image: Gavekal, Macrobond
Commodities and Baltic Dry Index Can the Baltic Dry Index, which is commonly used as a proxy for global economic growth, indicate a potential recovery in the global economy? Image: The Daily Shot
U.S. Small Bank Loans and U.S. Large Bank Loans U.S. banks play a vital role in supporting economic growth, and despite the challenges posed by rising interest rates, they continue to provide loans to individuals and businesses. Image: Morgan Stanley Wealth Management
S&P 500 Longest Win Streaks on a Certain Day The S&P 500 achieved a remarkable feat on Monday, as it recorded a record-breaking 15-day win streak. This streak represents the longest period of consecutive gains since 1950. Image: Carson Investment Research
Performance – Biotech vs. Nasdaq 100 U.S. biotech stocks are still experiencing significant underperformance compared to the Nasdaq 100. Image: BofA Global Investment Strategy
S&P 500 Quarterly Returns The last quarter of the year has traditionally been the strongest period for U.S. equities. It is frequently associated with favorable gains and a possible recovery from any setbacks encountered in the preceding quarter. Image: Goldman Sachs Global Investment Research
Valuation – S&P 500 vs. U.S. Treasuries The current high valuation of U.S. stocks compared to Treasuries suggests that investors are willing to pay more for stocks, possibly indicating optimism about future performance. Image: Topdown Charts
10-Year Treasury Non-Commercial Net Positioning and Market Yield on U.S. Treasury at 10-Year Constant Maturity Given the high level of short positions in 10-year U.S. Treasuries, some investors may find it advantageous to increase the duration of their bond portfolio in a scenario of falling interest rates. Image: Real Investment Advice