Category: Blog

Drawdowns Since 2011: S&P 500 and Zombie Companies Since the March lows, zombie companies have outperformed the S&P 500 by a wide margin in April and May. Image: Arbor Research & Trading LLC

Daily New Cases of Coronavirus: Euro-Area and UK Daily new COVID-19 case increases have significantly slowed down. Lockdowns are gradually lifted across Europe and activity is increasing. Image: Morgan Stanley Research

Purchasing Power of $100: S&P 500, Gold and Fiat Money Chart showing the purchasing power of $100 worth of fiat currency, gold and the S&P 500. Historically, stocks have won over the very long-term. Image: Fidelity Investments

Sources of Financing for Small Businesses in the U.S. This chart shows the sources of financing for small businesses in the U.S. since March 13, 2020. Image: Deutsche Bank Global Research

S&P 500 vs. Zombie Companies Zombie companies have outperformed the S&P 500 by a wide margin in April and May. The process of creative destruction is not taking place, thanks to the Fed and the government. Image: Arbor Research & Trading LLC

Sentiment – CBOE Put/Call Ratio and S&P 500 Index The put/call ratio suggests that investors are complacent. Image: Bloomberg

Inflation and Capacity Utilization This chart suggests that inflation will not be a problem for many years, as economists watch capacity utilization indicators for signs of inflation pressures. Image: Deutsche Bank Global Research

S&P 500 with NYSE 90% Up Days Historically, S&P 500 returns after an NYSE 90% up day are positive 80% of the time after 20 days. Image: BofA Global Research

Asset Allocation: Global Bonds FMS investors are still more bearish than bullish. Image: BofA Global Fund Manager Survey

FY2 P/E Premium of Sector-Neutral Valuation Quintiles Relative to S&P 500 Median This chart shows S&P 500 sector valuations compared with their historical distribution since 1990. Image: Goldman Sachs Global Investment Research

S&P 500 – 2020 vs. 2009 This chart suggests that the S&P 500 is following the 2009 pattern and market breadth. Image: Morgan Stanley Research