Category: Blog

Hedge Fund Leverage Hedge fund net leverage is close to record levels. It is also high compared to the average level of the last ten years. Image: Morgan Stanley

Valuation – Ratio of Market Value to Total Revenues for Nasdaq 100 Index How high can the Nasdaq 100 go? Image: Financial Times

S&P 500 Monthly Seasonality Historically, February isn’t usually a great month. Image: BofA Global Research

U.S. Equities, Margin Debt and Composite Valuation Index Margin debt has reached an all-time high. Does market euphoria suggest a correction coming? Image: Alpine Macro

Return and Valuation – Stocks with EV/Sales Ratios Above 20x as Share of U.S. Equity Trading Volumes and Market Capitalization The median stock with an EV/sales ratio above 20x has generated a subsequent 12-month return of -1% since 1985. Image: Goldman Sachs Global Investment Research

45 Years of Asset Bubbles The parabolic move of Bitcoin in a short period of time has pushed it into bubble territory. Image: Deutsche Bank

Number of Executive Orders Issued by President Annually President Biden has signed executive orders at a record pace. Image: J.P. Morgan

Goldilocks Consensus (Above-Trend Growth and Below-Trend Inflation) Goldilocks consensus has peaked in January, as only 41% of fund managers expect lower inflation and higher growth. Image: Bloomberg

S&P 500 Rally in Comparison with Rallies in 1929, 1938, 1974 and 2009 The current rally is the greatest of all time U.S. stock market rally. Image: BofA Global Investment Strategy

Small Caps vs. Large Cap Relative Performance Is a new small cap outperformance cycle beginning? Image: BofA US Equity & Quant Strategy

GWIM Emerging Markets ETF Flows BofA private client ETF inflows to emerging markets have accelerated sharply over the last four weeks. Image: BofA Global Investment Strategy