Forward 10-Year Real Returns and CAPE Valuations While high CAPE ratios can persist in markets for years, history suggests these elevated valuations often precede eras of subdued stock returns. Image: Real Investment Advice
Length of Bull Markets and When They Started The current bull market, which began in October 2022, remains relatively young by historical standards and could persist much longer than bearish observers expect. Image: Carson Investment Research
Cumulative Flows in All Bitcoin Funds and Gold ETF Holdings The past month has seen a clear preference for Bitcoin over gold among investors, driven by a shift toward riskier assets, robust technical performance, and accelerating ETF inflows into Bitcoin. Image: Goldman Sachs Global Investment Research
Citi U.S. Economic Surprise Index The recent decline in the U.S. Citi Economic Surprise Index indicates that the economy is currently underperforming analysts’ expectations. Image: Real Investment Advice
U.S. Small-Cap Stocks – Russell 2000 vs. S&P 500 While U.S. small-cap stocks have notably underperformed large caps for an extended period, history suggests that such cycles are not unusual and are often followed by multi-year stretches of small-cap outperformance. Image: Bloomberg
Stocks – Dow Jones with Major Geopolitical Events While geopolitical events can cause short-term market volatility, historical evidence shows that U.S. stocks tend to recover and grow over the long term. Image: Carson Investment Research
Gold Speculative Positions Speculative positioning in gold has declined sharply in recent weeks, driven by profit-taking, risk repricing, and rotation into other asset classes. Image: J.P. Morgan
Nominal 10-Year U.S. Treasury Yield and Indexed Return of Cyclicals vs. Defensives Higher growth expectations raise bond yields because investors demand greater compensation for potential inflation and uncertainty about future interest rates. Image: Goldman Sachs Global Investment Research
S&P 500 Price Target for 2025 Citing diminished tariff effects and a resilient U.S. economy, Deutsche Bank has increased its year-end S&P 500 forecast to 6,550, up from 6,150. Image: Deutsche Bank Asset Allocation
Gold Price Seasonality June has been a challenging month for gold investors over the past five decades, delivering the lowest hit rate and the second-worst overall performance. Image: Topdown Charts
Performance – % of S&P 500 Stocks Outperforming the Benchmark by Year Market leadership has broadened in 2025. Whereas a handful of large tech companies dominated in 2023 and 2024, more than half of S&P 500 stocks are now outperforming the index. Image: Ned Davis Research