Returns – Magnificent Seven vs. European Banks

Returns – Magnificent Seven vs. European Banks Since January 2022, European banks have outperformed U.S. mega-cap tech stocks—a notable achievement considering the longstanding dominance of American tech giants in global markets. Image: Goldman Sachs Global Investment Research

Oil Price Deviation from 48-Month Moving Average and U.S. Recessions

Oil Price Deviation from 48-Month Moving Average and U.S. Recessions While rising oil prices increase inflationary pressures and pose risks to economic growth, data suggest that current oil prices do not point toward a U.S. recession. Image: Real Investment Advice

Seasonality – S&P 500 Index Average Monthly Returns

Seasonality – S&P 500 Index Average Monthly Returns Bulls have reason to smile: historically, July has been the best month in post-election years and over the past 20 years. This suggests there is further upside potential ahead. Image: Carson Investment Research

Performance – Value vs. Growth

Performance – Value vs. Growth The U.S. market is experiencing outperformance in growth sectors driven by innovation and strong earnings, whereas value sectors dominate outside the U.S. due to slower earnings growth and differing economic dynamics. Image: Goldman Sachs Global Investment Research

Valuation – S&P 500 Forward Price-to-Earnings

Valuation – S&P 500 Forward Price-to-Earnings The S&P 500 is trading at 22 times expected earnings over the next year, 35% above its 20-year average. These elevated valuations are partly justified by expectations of strong forward earnings growth. Image: Bloomberg

10-Year U.S. Treasury Yield vs. Bloomberg Dollar Spot Index

10-Year U.S. Treasury Yield vs. Bloomberg Dollar Spot Index The dollar’s decline amid rising Treasury yields signals concerns over U.S. fiscal health, reduced foreign demand for debt, and geopolitical risks, reflecting a shift in investor confidence and the dollar’s role as a global safe haven. Image: Bloomberg

Hyperscaler Capex by Company

Hyperscaler Capex by Company A once-in-a-generation AI-driven capex boom is reshaping the industry. Hyperscalers are spearheading this change with massive investments in AI infrastructure, with spending set to reach $330 billion in 2025. Image: Goldman Sachs Global Investment Research

S&P 500 Risk-Adjusted Returns

S&P 500 Risk-Adjusted Returns The S&P 500’s risk-adjusted return in 2025 has been disappointing so far, reflecting a challenging market environment characterized by increased volatility and lower-than-average returns. Image: Goldman Sachs Global Investment Research

10-Year U.S. Treasury Yield Fair Value

10-Year U.S. Treasury Yield Fair Value The fair value model for the 10-year U.S. Treasury yield, based on market variables, suggests a fair value close to 3.9%. Image: Deutsche Bank

Oil Prices and Events

Oil Prices and Events Higher oil prices act like a tax on the economy, cutting disposable income and raising business costs, which can slow growth or cause recessions. However, these spikes are generally short-lived because demand falls and markets adapt. Image: Real Investment Advice