Category: Blog

Weekly New Global Coronavirus Infections Is the coronavirus pandemic far from over despite vaccinations? Image: Bloomberg

Real Rates vs. S&P 500 Forward P/E Ratio Should investors expect a weak summer for U.S. equities? Image: Nordea and Macrobond

S&P 500 Valuation Dispersion of Forward P/E vs. Relative Performance of Russell 1000 Growth over Value Valuations dispersion remains at high levels and is 42% above its long-term median. Image: BofA US Equity & Quant Strategy

Implied Volatility (VIX) and Realized S&P 500 Volatility (1-Month) According to Goldman Sachs, the volatility risk premium will return toward 2021’s highs in the coming weeks. Image: Goldman Sachs Global Investment Research

Value/Growth Performance Historically, Value tends to outperform Growth for 33 months on average. Image: BofA US Equity & Quant Strategy

U.S. Quarterly Equity Offerings Equity offerings have increased dramatically in the first quarter this year. Image: Lohman Econometrics

Net Household Saving Rate Will households spend some of the accumulated excess saving? Image: Financial Times

Economy – U.S. Miles Driven Has the pandemic changed driving habits in the United States? It appears that Americans are now driving as much as before the pandemic. Image: Gavekal, Macrobond

U.S. Cyclicals vs. Defensives and U.S. 10-Year Breakeven Will U.S. cyclicals continue to lag behind rising U.S. inflation expectations? Image: Goldman Sachs Global Investment Research

U.S. Labor Market – NFIB Small Business Job Openings Hard to Fill U.S. job openings rose to a two-year high, as small businesses report difficulty filling jobs. Image: BofA Global Investment Strategy

CTAs’ Net Position in Nasdaq 100 Futures vs. the Nasdaq 100 CTAs have increased their long positions in Nasdaq 100 futures. Image: Nomura