Cash Held by U.S. Households Equity inflows are drawing support from the cash buffers U.S. households amassed during the pandemic, with a large share of those savings yet to be deployed. Image: Deutsche Bank Asset…

Hyperscaler Capex, EBITDA and Net Buybacks Hyperscaler capex is outpacing earnings and starting to bite. Buybacks are slipping as cash is redirected into AI infrastructure, setting up a tradeoff: more upside later, less cash in…

Gold Futures Gold’s 2026 gains have evaporated as sentiment flipped from rate cuts to higher-for-longer expectations. A stronger U.S. dollar is adding pressure, while forced selling to cover losses elsewhere is accelerating the selloff. Image:…

Probability of U.S. Recession Calculated from the Yield Curve The probability of U.S. recession in 12 months, calculated from the yield curve, stands at 12.5%, keeping the expansion narrative intact. This cycle still has room…

Cumulative Flows to Cryptocurrency Funds Crypto funds have faced persistent outflows since May, driven largely by selling in Bitcoin vehicles as investor appetite cools. Image: Deutsche Bank Asset Allocation

Mega-Cap Growth & Tech Positioning Mega-cap growth and tech positioning sits near neutral at the 48th percentile, far from crowded levels and leaving room for potential upside. Image: Deutsche Bank Asset Allocation

Risk Appetite Indicator Level and Momentum Factors Goldman Sachs’ Risk Appetite Indicator is back in stretched territory as investors flock to higher-risk bets. Riding the upside can pay off, until the crowd is caught in…

Cumulative Global Equity Fund Flows Across Regions U.S. equity inflows are holding up well and have picked up pace in recent months, adding fuel to the market’s upward momentum. Image: Goldman Sachs Global Investment Research

S&P 500 and Nasdaq 100 – First Half of July Seasonality favors the bulls. Since 1928, the S&P 500 has advanced 69% of the time in the first half of July, with the Nasdaq 100…

Seasonality – S&P 500 Index Returns in June The second half of June has a track record of frustrating equity bulls, with U.S. stocks often drifting lower. The bright spot is that we are now…

Hyperscaler Capex U.S. hyperscaler capex is set to reach $764 billion this year, rising to $1.018 trillion by 2027. At that scale, it feels less like a cycle and more like a structural reset. Image:…