Category: Blog

Valuation – TTM P/E vs. S&P 500 Forward 10-Year Return Should investors expect anemic returns over the next 10 years? Image: Strategas Research Partners

VIX Index and VIX Futures (Noncommercial Net Long) Even though the VIX is retreating, investors still expect volatility to return to the market. Image: Morgan Stanley Wealth Management

Total Equity ETF Flows Equity ETF inflows remain strong. Image: Morgan Stanley Wealth Management

U.S. 10-Year TIPS Yield and Federal Budget Balance A larger U.S. budget deficit tends to lead to a lower TIPS yield. Image: Alpine Macro

U.S. Equities – Cyclicals/Defensives, Low/High Quality, Small/Large Is the shift in market leadership a warning sign about the reopening of the economy? Image: Morgan Stanley Research

S&P 500 Index Relative to Historic Valuation Ranges Should investors worry about the current S&P 500’s valuation? Image: Real Investment Advice

Inflows – Bonds vs. Equities in Past 12 Years Since 2008, inflows into global bonds of $2.4tn still exceed inflows into global equities of $1.0tn. Image: BofA Global Investment Strategy

U.S. Dollar Share of Allocated Reserves The share of the U.S. dollar in global reserves has decreased and now stands at 59%. Image: Goldman Sachs Global Investment Research

Euro to U.S. Dollar (EUR/USD) and 10-Year Spread (Leading Indicator) The 10-year spread (Euro vs. U.S. dollar swap rates) tends to lead EUR/USD by 22 days. Image: Nordea and Macrobond

Inflows to Global Equity Funds Inflows to global equity funds in the past 5 months of $569 billion exceed inflows in the prior 12 years of $452 billion. Image: BofA Global Investment Strategy

Performance – Nasdaq 100 vs. S&P 500 Is it the start of a long reversal? Image: BofA Global Investment Strategy