Valuation – 12-Month Forward P/E Premium (Discount) of Growth vs. Value Should investors favor value vs. growth, as the premium of growth companies reached all-time highs? Image: Goldman Sachs Global Investment Research
Valuation – U.S. Market Capitalization to GDP and Cyclically Adjusted P/E (Shiller CAPE) U.S. market capitalization to GDP is at all-time high. Image: Goldman Sachs Global Investment Research
FMS Investors and 10Y-3M Yield Curve FMS investors are expecting a steeper yield curve. At 73%, this is an all-time high. Image: BofA Global Fund Manager Survey
Global Aggregate Negative Yielding Debt The amount of global debt with negative yields jumps to $17.05 trillion, an all-time high, as investors rush to safety in government bonds. Image: Bloomberg
Performance – Emerging Markets Ex State Owned Enterprises ETF Emerging markets ex state owned enterprises ETF is at all-time highs. Image: BofA Global Investment Strategy
S&P 500 Historical Bear Markets and Recoveries since 1929 The all-time high came after a recovery from the shortest bear market in S&P 500 history. Image: Scotiabank GBM Portfolio Strategy
Equal-Weighted S&P 500 and S&P 500 Cumulative Advance/Decline Charts suggesting that a market correction may begin soon, as the S&P 500 cumulative advance/decline line fails to confirm the new all-time highs. Image: Morgan Stanley Research
Gold vs. Real U.S. 10-Year Yield Gold continues to shine, but for how long? The price of gold surged to an all-time high, while U.S. real yields are near an all-time low. Image: J.P. Morgan
Global Debt Levels vs. Global Bond Yields Global debt is at all-time high, while global bond yields are at all-time low. Image: J.P. Morgan
Total Returns – Gold, Nasdaq and MSCI World ex-US With the Nasdaq at all-time high, markets expect a weak global growth, low inflation and a strong U.S. dollar. Image: Gavekal, Macrobond
Valuation – P/E Premium of MSCI Growth vs. Value Indices The valuation premium of growth stocks vs. value stocks is close to an all-time high. Image: Goldman Sachs Global Investment Research