Category: Blog

China – Renminbi vs. Major Currencies The renminbi rallies substantially on China’s economic recovery. Image: Gavekal, Macrobond

U.S. 10-Year Bond Yields Around Bear Markets Low and anchored bond yields during the recovery help to explain the strong rise in equity valuations. Image: Goldman Sachs Global Investment Research

Gold Price – Worst Month in Four Years Gold continues to fall out of favour on vaccine optimism. Image: Financial Times

U.S. Equity Risk Premium and VIX The U.S. equity risk premium remains above its long-term average, but the risk-adjusted return of equity has dropped below its long-term avearge this year. Image: Societe Generale Cross Asset Research/Global Asset Allocation

Growth vs. Value – MSCI Indices Value stocks are likely to benefit the most from the economic recovery. Image: Goldman Sachs Global Investment Research

China’s Single’s Day Set Another Record The China economy continues to grow. The recent Single’s Day shows that demand remains strong. Image: J.P. Morgan Asset Management

Earnings Forecasts – U.S., Developed International and Emerging Markets Earnings are expected to rise substantially in 2021, as the global economy continues to recover from the coronavirus pandemic. Image: LPL Research

Coronavirus – Baseline Expected Vaccination Timeline Goldman Sachs expects that more than half of the population in all major DMs will be vaccinated by the end of Q2 2021. Image: Goldman Sachs Global Investment Research

Flow – U.S. Value Stocks Second largest 3-week inflow ever to value stocks. Should investors forget growth stocks? Image: BofA Global Investment Strategy

Multi-Asset Class Total Return Since March 2020 Chart showing how the coronavirus and a COVID-19 vaccine affect asset returns. Image: Deutsche Bank

U.S. Fund Flows (YTD Cumulative) U.S. equity funds have seen inflows over the past few weeks, but there is still a lot of cash on the sideline. Image: Goldman Sachs Global Investment Research