China Credit Impulse Leads Global Manufacturing PMI China credit impulse tends to lead global manufacturing PMI by 12 months. Credit impulse is the change in new credit issued as a percentage of GDP. Image: Nordea and Macrobond
Performance – MSCI World Ex-U.S. and MSCI U.S. It has not paid to bet against U.S. stocks so far this year, as the gap between the U.S. stock market and stocks from the rest of the world continues to widen. Image: The Daily Shot
S&P 500 Index Annualized Operating Leverage, Earnings Per Share Growth Less Sales Growth S&P 500 operating leverage is well above average. Is it sustainable? Image: Morgan Stanley Wealth Management
Coronavirus – Hospitalizations vs. Vaccinations The negative relationship between hospitalizations and vaccinations is significant (R² = 0.55). Image: BofA Global Research
Magnitude of S&P 500 Quarterly Earnings Beats (Misses) The S&P 500 is on pace for its best quarterly earnings growth since the global financial crisis. Image: BCA Research
S&P 500 – Average Recovery Days and Number of 2-Sigma Events The market recovery time has reached a new all-time low in 2021. Image: BofA Global Research
Share of Cash in Retail Transactions The use of cash in retail transactions is gradually declining. Image: Financial Times
Performance – U.S. IPOs and S&P 500 Could the poor performance of U.S. IPOs this year have a negative impact on upcoming listings? Image: Financial Times
NASDAQ 100 Index and Percent of Stocks Trading Above 50-Day Moving Average The NASDAQ breadth has not matched the rise in the index. Is it time to reduce exposure to tech stocks? Image: Morgan Stanley Wealth Management
S&P 500 and VIX The simultaneous rise in the VIX and the S&P 500 is unusual and a red flag. Image: BofA Global Research
Small Cap Stocks – S&P 500 Index/S&P 600 Index Is the party over for small cap stocks, as large caps outperform small caps again? Image: Morgan Stanley Wealth Management