Category: Blog

Use of Cash Is this the end of cash? The use of cash is declining faster than it did before the coronavirus pandemic. Image: Deutsche Bank Research

U.S. Equity Strategy – Cyclicals vs. Defensives and S&P 500 Morgan Stanley suggests that the S&P 500 has potential downside to 2800-2850, as the correction in early June is likely not over. Image: Morgan Stanley Research

Debt as % of GDP by Global Sector Since the Global Financial Crisis, debt as % of GDP is much higher in the government and corporate sectors. Image: BofA Global Investment Strategy

U.S. Headline Retail Sales U.S. retail sales look V-shaped, but can it last? Image: Morgan Stanley Research

Seasonality – S&P 500 60-Day Rolling Forward Return On average, July 31 marks the start of the worst 60-day stretch for the S&P 500 since 1990. Image: Morgan Stanley Research

U.S. Small Business Confidence and U.S. Employment Peak to Recovery Small business confidence is rebounding, but it could take many years for the U.S. labor market to recover. Image: BofA Global Investment Strategy

Flow – % Share of Rolling Three-Month ETF Inflows Investors reduced their equity exposure. Over the past 3 months, nearly 50% of all ETF inflows have funneled into HY, IG and Agg bonds. Image: Arbor Research & Trading LLC

Total Number of S&P 500 Guidance Instances The number of S&P 500 companies providing guidance declines over time. Image: BofA US Equity & US Quant Strategy

Flows into Tech Funds Potential bubble? Tech funds saw the largest 2-week inflow ever. Image: BofA Global Investment Strategy

Performance of U.S. Growth vs. Value Stocks, U.S. vs. non-U.S. Equities and S&P Cyclicals vs. Defensives Equity rotation are delivering for non-U.S. vs. U.S. markets and Cyclicals vs. Defensives, but not for Value vs. Growth. Image: J.P. Morgan

S&P 500 Index – Longest Bull Markets since WWII Chart showing every bull market since WWII. The recent bull market peaked at 400%. Image: LPL Research