Category: Blog

S&P 500 Earnings Surprise Current estimates are forecasting an earnings surprise of 14.6% for the S&P 500, well above the long-run average of 7%. Image: J.P. Morgan Asset Management

7-Week Cumulative Flows to Tech Stocks Should investors still continue to dump tech stocks in favor of cyclicals? Image: BofA Global Investment Strategy

Equity/Bond Performance – Stock-to-Bond Ratio The S&P 500 total return divided by total return in U.S. 10-year Treasury bonds is at an extreme level. Image: Alpine Macro

Valuation – High Quality Stocks vs. Russell 1000 High quality stocks look cheap relative to the broad market. Image: Financial Times

Interest Rates – Federal Funds Target Rate The Fed funds rate has declined over time and could peak at 150bp in the coming cycle. Image: Nordea and Macrobond

Valuation – U.S. 10-Year Real Yield and MSCI World Index Forward Price/Earnings Ratio The price of global equities is expected to fall, if U.S. real yields rise. Image: Morgan Stanley Wealth Management

SPY S&P 500 ETF – Day vs. Night Price Returns The S&P 500 loves the night. Since 1993, the real profits have been made outside regular trading hours. Image: Lohman Econometrics

Housing – House Price Index This is the fourth housing boom since 1970. Image: BofA Global Investment Strategy

Economic Surprises Index – China vs. G10 Economies Will G10 economies follow China? Image: BCA Research

Rates Volatility Rates volatility has increased again. Image: Goldman Sachs Global Investment Research

ISM PMI vs. S&P 500 Markets tend to lead the macro for most time periods. Image: BofA Global Investment Strategy