Category: Blog

S&P 500 At All-Time High Despite the coronavirus pandemic, the S&P 500 hits all-time high, but is testing resistance. Image: StockCharts

Delinquencies as % of Total Loans This chart shows the highest mortgage delinquency rate in nine years. Image: The Daily Shot

Estimated S&P 500 Earnings Impact Based on Biden’s Proposals Joe Biden’s tax proposal could significantly reduce S&P 500 earnings, if passed into law. Image: BofA US Equity & Quant Strategy

U.S. Small Caps – Ratio of Russell 2000 vs. S&P 500 Chart suggesting that small stocks are no longer providing big gains for investors Image: Financial Times

U.S. 10-Year Yields Around the End of the Recession The coronavirus pandemic has depressed the 10-year yield, leaving it stuck, even as the stock market rebounds. Image: J.P. Morgan

FMS Investors – Early-Cycle vs. Recession FMS investors are becoming more optimistic, starting to think early-cycle rather than recession. Image: BofA Global Fund Manager Survey

Drawdowns – S&P 500 vs. High Yield The high-yield sector has been relatively resilient during the recent drawdown episode. Image: Fidelity Investments

U.S. JOLTS Survey vs. 10-Year U.S. Treasury Yield As macroeconomic data continue to improve, how long can yields resist the recovery? Image: Morgan Stanley Wealth Management

FMS Investors and Bull Market Net 46% of FMS investors say “it is a bull market”, no longer a “bear market rally” (35%). Image: BofA Global Fund Manager Survey

Annual S&P 500 EPS Growth Through 2022 Goldman Sachs expects S&P 500 earnings to contract by 21% this year, before rebounding by 30% in 2021 and 11% in 2022. Image: Goldman Sachs Global Investment Research

U.S. Real Retail Sales during 7 Recessions since 1970 The rebound in U.S. real retail sales is a V-shaped recovery, but can it last? Image: Pictet Asset Management