S&P 500 Equity Risk Premium and S&P Bear/Base/Bull Targets Morgan Stanley raises its year-end S&P Bear/Base/Bull targets to 2500/3000/3250, as the equity risk premium could quickly disappear. Image: Morgan Stanley Research
S&P 500 Forward 2-Year P/E Ratio The U.S. stock market is pricing in a V-shaped economic recovery. Image: Goldman Sachs Global Investment Research
CTAs’ Net Position in S&P 500 Futures vs. S&P 500 Chart suggesting that there would be less short squeezes, as CTAs are covering short S&P 500 future positions. Image: Nomura
Prediction for Near-Term S&P 500 Downside to 2,000 Goldman Sachs suggests that equity markets are unlikely to make new lows, if the U.S. doesn’t have a second surge in infections after the economy reopens. The year-end S&P 500 target remains 3,000. Image: Bloomberg
Global Equity Market Capitalization Global stock markets lost about $20tn in value so far. Image: Crescat Capital LLC
Sector Composition of the S&P 500 by Equity Capitalization as of March 31, 2020 Chart showing the evolution of S&P 500 sectors over time. Image: Goldman Sachs Global Investment Research
U.S. Stocks – The Cost of Market Timing This chart shows the impact on performance over time, when investors attempt to time the market. Image: Legg Mason
U.S. Bank Loans On the positive side, U.S. banks have significantly increased lending. Image: BofA Global Investment Strategy
Coronavirus Jobless Claims at Recession Levels The 16.8 million unemployment claims in the past three weeks, are on par with past months-long recessions Image: CNBC
U.S. Unemployment Rate Forecast J.P. Morgan expects the U.S. unemployment rate to rise to 20% next month. Image: J.P. Morgan
U.S. Economic Impact of the Coronavirus Pandemic – Republicans vs. Democrats Republicans are more concerned about the impact of the coronavirus pandemic on the U.S. economy than Democrats. Image: Financial Times