Category: Blog

S&P 500, U.S. Bond Yields and Quantitative Easing (QE) Since QE, the S&P 500 has been increasingly driven by U.S. yields. Image: Societe Generale Cross Asset Research

S&P 500 Performance in Election Weeks This week, the S&P 500 has rallied for four days in a row. Image: CNBC

Valuation – S&P 500 Value/Growth and “Expected” Real 10-Year Lower interest rates for longer could support higher valuations of tech stocks. Image: Nordea and Macrobond

Quantitative Easing (QE) – Quarterly Pace of Central Bank Purchases Should investors worry about QE fading? Image: BofA Global Research

Copper to Gold Ratio vs. ISM Manufacturing PMI The ISM manufacturing PMI suggests a higher copper to gold ratio. Image: Alpine Macro

Global Aggregate Negative Yielding Debt The amount of global debt with negative yields jumps to $17.05 trillion, an all-time high, as investors rush to safety in government bonds. Image: Bloomberg

U.S. Labor Market – Continuing Claims for Unemployment Continuing claims declined for the sixth straight week, but the U.S. job market remains fragile. Image: Oxford Economics

Coronavirus Pandemic Crisis – Total Number of Commercial Flights The number of commercial flights remain well below pre-pandemic levels. Image: Financial Times

U.S. Dollar Net Positioning Speculators reduced their net short dollar positions. Image: J.P. Morgan

Likely U.S. Election Scenarios and Macro Implications Is it time to say goodbye to a big fiscal stimulus package? Image: BofA Research Investment Committee

Stocks – Basket of Biden Longs vs. Basket of Biden Shorts Is no Democratic sweep good news? Biden shorts, like tech and managed care, rose significantly. Image: BofA Global Research