Concentration – Top 10 as % of Total (In Terms of Total Equity Market Capitalization) Compared to the U.S. market, China’s equity market currently shows a historically low level of market capitalization concentration, indicating greater growth potential. Image: Goldman Sachs Global Investment Research
U.S. Households’ Allocation to Equity, Bond and Cash Americans’ love for stocks has driven household equity allocations to historic highs, increasing wealth but also sparking concerns about market stability and the risks of shifting investor sentiment. Image: Goldman Sachs Global Investment Research
Monthly U.S. Equity Mutual Fund and ETF Flows Recently, U.S. equity fund flows have been weak, with sustained outflows driven by trade policy uncertainty and cautious investor sentiment. Image: Goldman Sachs Global Investment Research
Breakdown of Household Equity and Mutual Fund Ownership by Wealth Percentile Stock ownership in the U.S. is increasingly concentrated—the wealthiest 1% currently holds 51% of total household equity assets. Image: Goldman Sachs Global Investment Research
U.S. Equity Sentiment Indicator – Equity Positioning A reading of -1.3 on the Goldman Sachs U.S. Equity Sentiment Indicator signals cautious investor positioning, which has historically preceded gains in the S&P 500 over the following month. Image: Goldman Sachs Global Investment Research
Sentiment – Risk Appetite and Expected U.S. Equity Market Performance U.S. equity investors remain highly risk-averse in June 2025, with bearish short-term return expectations, largely driven by political and macroeconomic uncertainties. Image: S&P Global Market Intelligence
Small Cap Equity Positioning With small-cap equity allocations at the 23rd percentile, there is considerable room for increased exposure—especially for investors focused on long-term growth. Image: Deutsche Bank Asset Allocation
S&P 500 Equity Risk Premium With the U.S. equity risk premium at historically low levels, equity investors face a more challenging environment, as the risk-reward trade-off is less attractive than before. Image: The Daily Shot
Foreign Investor Ownership Share of U.S. Equity Market Foreign investors now hold a record 18% of U.S. stocks, but shifting trade policies and global economic uncertainties may affect future investment in American equities. Image: Goldman Sachs Global Investment Research
MOVE Index and Discretionary Investors Equity Positioning Discretionary investors equity positioning has remained inversely correlated with U.S. rates volatility. Image: Deutsche Bank Asset Allocation
Discretionary Equity Positioning and S&P 500 EPS Growth At current levels, discretionary investors are factoring in continued strong earnings growth for the S&P 500, with no signs of a slowdown. Image: Deutsche Bank Asset Allocation