U.S. Economy A recent Deutsche Bank survey found that 45% of participants predict a “no-landing” scenario for the U.S. economy by the end of 2024. This suggests no recession and inflation will remain above the Fed’s 2% target. Image: Deutsche Bank
Inflation – Potential Paths for U.S. Core CPI If the Fed cuts rates in June, U.S. core CPI is expected to exceed the Fed’s 2% inflation target, which could pose challenges for the central bank in maintaining price stability. Image: BofA Global Investment Strategy
Financial Conditions and U.S. Recessions The Fed may face challenges due to looser financial conditions, as it requires tighter conditions in order to effectively curb inflation towards its 2% target. Will the Fed adopt a more hawkish stance next month? Image: Real Investment Advice
U.S. 10-Year Treasury Yield – Monthly Chart The gradual approach of the U.S. 10-year Treasury yield towards the secular target carries significant implications for various sectors of the economy and financial markets. Image: BofA Global Research
Valuation – U.S. 10-Year Real Yields and S&P 500 12-Month Forward P/E U.S. 10-year real yields help explain the stock market valuation. UBS targets 4400 for the S&P 500 for 2021. Image: UBS
Sensitivity of S&P 500 Price to Real Rates and Breakeven Inflation Goldman Sachs expects breakeven inflation will continue to rise. The year-end S&P 500 price targets of 4300 this year and 4600 in 2022 remain unchanged. Image: Goldman Sachs Global Investment Research
Path of the S&P 500 by the End of 2020 and Mid-Year 2021 Goldman Sachs maintains its S&P 500 price target to 3600 by the end of 2020, and its S&P 500 price target to 3800 by mid-year 2021. Image: Goldman Sachs Global Investment Research
Forecast – New Path of the S&P 500 Market in 2020 Goldman Sachs has set a price target of 3000 by the end of 2020, and a new mid-year S&P 500 target of 2400. Image: Goldman Sachs Global Investment Research
Prediction for Near-Term S&P 500 Downside to 2,000 Goldman Sachs suggests that equity markets are unlikely to make new lows, if the U.S. doesn’t have a second surge in infections after the economy reopens. The year-end S&P 500 target remains 3,000. Image: Bloomberg
New Path of the S&P 500 Market in 2020 Goldman Sachs has set a price target of 3200 by the end of 2020, and a new mid-year S&P 500 target of 2000. Image: Goldman Sachs Global Investment Research
Share of Global Annual CO2 Emissions To achieve the global warming target in the Paris Agreement, net zero emissions should be reached by 2050. Image: Financial Times