Median S&P 500 1-Month Return vs. Z-score of 1-Month Change in 10-Year Treasury Yields The S&P 500 tends to decline in a given month when 10-year Treasury yields rise sharply. Image: Goldman Sachs Global Investment Research
Valuation – % of S&P 500 Stocks Oversold, Neutral, Overbought Chart suggesting that 46% of S&P 500 stocks are overbought. Image: MarketDesk Research
Bank Stock Performance During Previous Recessions Historically, bank stocks tend to outperform the S&P 500 in the year following a recession. Image: BofA Global Research
Commodity Spot Index Are commodities poised for a new bull market as a reflation play? Image: Bloomberg
S&P 500 Financials Index/S&P 500 Index and ISM Manufacturing PMI The ISM Manufacturing PMI suggests that the financials’ rally should continue. Image: Morgan Stanley Wealth Management
Market Capitalization of the Largest Companies Included in the S&P 500 Index Tesla is the largest company to be added to the S&P 500 index. Image: Statista
Valuation – U.S. Equities vs. Other Markets U.S. equities at 0.69, look very expensive relative to other markets. Image: Gavekal, Macrobond
Stocks – Tesla Short Interest as % of Float Tesla’s short sellers have lost billions of dollars this year. Image: Goldman Sachs Global Investment Research
Ten Largest U.S. Tech Company IPOs IPOs are benefiting from the new bull market, as three of the 10 largest U.S. tech IPOs have happened this year. Image: CNBC
S&P 500 Annual Realized Volatility Since 1946 2020 has been one of the most volatile year for the S&P 500 since 1946. Image: Goldman Sachs Global Investment Research
Coronavirus – Estimated Total Deaths by Pandemic as a Percentage of the Global Population at the Time This chart shows how the COVID-19 pandemic compares historically with other pandemics. Image: Deutsche Bank