Category: Blog

ISM Manufacturing vs. S&P 500 Performance More than 90% of the gains in the S&P500 Index have occurred when the ISM Manufacturing Index rises. Image: Alpine Macro

Consumer Spending Growth Since WWII Consumer spending is expected to increase significantly in 2021. Image: Oxford Economics

Emerging Market Stocks – EM Consumer Discretionary + Tech vs. EM Energy + Materials This chart highlights the secular rotation from healthcare/tech to energy/financials. Image: BofA Global Investment Strategy

S&P 500 Aggregate Sales Beat Aggregate sales of S&P 500 companies are expected to far exceed market expectations. Image: Deutsche Bank Asset Allocation

Performance – Rolling 3-Month Total Return Spread: Zombie Companies – S&P 500 Is zombie companies’ outperformance over? Image: Arbor Research & Trading LLC

Price Volatility: Bitcoin vs. U.S. Dollar Index (DXY) Is the price of Bitcoin too volatile to be a store of value? Image: Alpine Macro

U.S. Core Inflation Expected Over the Next 21 Months (Leading Indicator) M2 velocity year-over-year tends to lead U.S. core CPI by 21 months (R² = 0.52 since 1996).  It has been quite accurate for more than 20 years. Click the Image to Enlarge

Tech Stocks – Central Bank Balance Sheet vs. Big Tech Market Capitalization Are markets too optimistic about Fed tapering? Image: BofA Global Investment Strategy

Commodities Rolling 10-Year Annualized Return Could commodities continue their comeback? Image: BofA Global Investment Strategy

FAANGM Stocks vs. S&P 500 and U.S. 10-Year Yields A top in U.S. 10-year yields could be good news for FAANGM stocks. Image: Alpine Macro

CTAs’ Net Position in WTI Crude Oil Futures vs. the WTI Crude Oil Futures Price CTAs have increased their net long positions in WTI crude oil futures. Image: Nomura