FMS Net % Expecting Stronger Economy vs. S&P 500

FMS Net % Expecting Stronger Economy vs. S&P 500 There is still a significant disconnect between the macroeconomic perspective of FMS investors and the performance of U.S. equities. Image: BofA Global Fund Manager Survey

Cumulative Flows into U.S. Equity Funds

Cumulative Flows into U.S. Equity Funds U.S. active equity funds face outflows as investors increasingly favor U.S. passive equity funds due to lower fees, potential tax advantages, and skepticism towards active fund managers’ ability to consistently beat the market. Image: Goldman Sachs Global Investment Research

EM/DM Relative Performance vs. U.S. Dollar

EM/DM Relative Performance vs. U.S. Dollar The strength of the U.S. dollar can affect the relative performance of EM/DM equities. A weak U.S. dollar has historically led to outperformance of emerging market equities. Image: BofA Global Investment Strategy

Hedge Fund and Mutual Fund Equity Exposure

Hedge Fund and Mutual Fund Equity Exposure Hedge funds and mutual funds have increased their allocation to equities over the course of this year, indicating a growing confidence in the stock market. Image: Goldman Sachs Global Investment Research

S&P 500 Quarterly Returns

S&P 500 Quarterly Returns The last quarter of the year has traditionally been the strongest period for U.S. equities. It is frequently associated with favorable gains and a possible recovery from any setbacks encountered in the preceding quarter. Image: Goldman Sachs Global Investment Research

Fed Balance Sheet

Fed Balance Sheet The shrinking of the Federal Reserve’s balance sheet can have an impact on liquidity and potentially act as a headwind for U.S. equities. Image: BofA Global Investment Strategy

S&P 500 and 12-Month Rate of Change in Margin Debt

S&P 500 and 12-Month Rate of Change in Margin Debt The rise in margin debt in June and July can be seen as a bullish signal for U.S. equities, indicating increased optimism and risk appetite among investors. Image: BofA Global Research Click the Image to Enlarge

Cumulative Equity Inflows vs. S&P 500

Cumulative Equity Inflows vs. S&P 500 Investors have been moving their money from stocks to bonds and money market funds, resulting in flat flows into equities since the start of the year. Image: BofA Global Investment Strategy

Dividend Yield

Dividend Yield Global ex-U.S. equities continue to offer higher dividend yields than U.S. equities. Image: Topdown Charts