Passive Over Active Funds History suggests that investor outflows from active funds are smallest after periods of high policy uncertainty. Image: Goldman Sachs Global Investment Research

MSCI ACWI Index – Bull and Bear Market As Morgan Stanley points out, this is the “unsatisfying bear market”, difficult for both bulls and bears. Image: Morgan Stanley Research

Global Negative Yielding Debt Index Global negative-yielding debt has now fallen below the 2016 peak. Image: Financial Times

Deal Value of U.S. IPOs Goldman Sachs expects $25 billion of U.S. IPOs in 2020, less than the $40 billion average since 1990. Image: Goldman Sachs Global Investment Research

Emerging Market Valuations Chart suggesting that emerging market valuations are not cheap for bargain investors. Image: J.P. Morgan

S&P 500 ETF (SPY) Average Daily Percentage Change by Weekday: 2019 On average this year, returns on Mondays were lower than every other day of the week. The weekend effect persists this year and is…

S&P 500 Trading Volume The decline in trading volume of the S&P 500 could pose risks for investors during the next selloff due to the lack of liquidity. Image: MarketWatch

Earnings Estimate Progression This chart shows the earnings estimate progression since 2013. For this year, the consensus estimate of EPS growth is currently around 1.9%, and around 9.7% for 2020. Image: Fidelity Investments

U.S. Fund Flows Chart showing the large divergence between flows into equity funds and those into cash and bonds. Image: Goldman Sachs Global Investment Research

U.S. Employment Six charts suggesting that U.S. employment may weaken (correlation greater than 0.87). Image: Paolo Cardena

S&P 500 Total Return vs. BarclayHedge Hedge Fund Index Hedge funds have underperformed the S&P 500 over the past decade, but volatility has been lower. Image: The Daily Shot, Bloomberg