Category: Blog

S&P 500 and Gold – GWIM Equity Flows and Gold ETF Demand for gold remains strong. BofA private clients have been selling S&P 500 at 3000 and buying gold. Image: BofA Global Investment Strategy

Money Supply to GDP vs. Equities and Bonds Historically, when money supply exceeds nominal GDP growth, it tends to be bullish for stocks and bonds. Image: Gavekal, Macrobond

U.S. Treasury 30Y-5Y Yield Curve and Probability of U.S. Senate Democratic Control A Democratic sweep is a possibility, as the yield curve now tracks the likelihood of Democratic control of the U.S. Senate. Image: BofA Research Investment Committee

GDP and Shape of Recovery V-shaped or Swoosh? This chart shows the alphabet of economic recovery scenarios. Image: Financial Times

Actual 10-Year Rate vs. Forecasts for the 10-Year Rate This chart highlights that the market has been wrong predicting higher long rates. Image: Deutsche Bank Global Research

More than 90% of Stocks above 50-Day Moving Average Short-term overbought, but historically, more than 90% of stocks above the 50-day moving average is bullish. Image: Strategas Research Partners

EU Recovery Funds and Proposed Allocation of Fund by Country The European Commission is proposing a 750 billion euro recovery fund. This chart shows who gets what as a percentage of GDP. Image: Oxford Economics

U.S. GDP vs. Current Activity Indicator (CAI) This chart from Goldman Sachs suggests U.S. GDP estimate for 2020 and 2021. Image: Goldman Sachs Global Investment Research

S&P 500 (SPY) After Hours vs. Regular Trading Performance This year, market returns were achieved during regular trading hours. Buying the open (SPY) and selling the close: +16.9% YTD (for informational purpose only, not investment advice). Image: Bespoke Investment Group

ETF Flows by Asset Type As the chart shows, investors are finally buying equity ETFs again, but fixed-income remains the champ. Image: Arbor Research & Trading LLC

More than 90% of S&P 500 Index Components above their 50-Day Moving Average The past 11 times that more than 90% of S&P 500 index components were above their 50-day moving average, the S&P 500 was higher 10 times and up +15.9% on average. Image: LPL Research