Global EPS Consensus Forecast

Global EPS Consensus Forecast Global EPS growth estimates for 2022 are falling. Will global stocks follow? Image: BofA Global Investment Strategy

Oil – Brent Future Prices

Oil – Brent Future Prices Oil prices are back to pre-covid levels. Will pro-cyclical stocks outperform, driven by strong global economic growth in 2021 and 2022? Image: Goldman Sachs Global Investment Research

S&P 500 vs. Global Money Supply

S&P 500 vs. Global Money Supply More global stimulus could be bullish for stocks, as global money supply growth tends to push U.S. equities higher. Image: Fidelity Investments

Global Money Supply and MSCI World Index

Global Money Supply and MSCI World Index Global equities are around 1 standard devation vs. global money supply. It could be bullish for stocks, as global money supply growth tends to push equities higher. Image: Nordea and Macrobond

Top 5 vs. S&P 500 ex-Top 5 – YoY Contribution of EPS and P/E to Returns

Top 5 vs. S&P 500 ex-Top 5 – YoY Contribution of EPS and P/E to Returns The performance gap could widen further, as the top 5 largest stocks in the S&P 500 are superior on almost every financial metric (revenue, profit growth, margin structure, volatility and corporate leverage). Image: Credit Suisse Research

Money Supply to GDP vs. Equities and Bonds

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