Sustainability Generates Better Risk-Adjusted Performance Many large institutional asset owners have embraced sustainable investing. Image: Robeco

After Yield-Curve Inversions, Stocks Show No Clear Pattern A yield curve inversion is a necessary condition for a recession, but after yield-curve inversions, stocks show no clear pattern. Image: MSCI

30-Year Mortgage Rates vs. 10-Year Treasury Yield There is a very high correlation between the 30-year mortgage rates and the 10-year treasury yield 30-year mortgage rates = 1.739 x (10-year treasury yield)² + 0.7755 x…

US Long-Term Mortgage Rates Decline: 30-Year Average 4.10% & 15-Year Average 3.57% Why US long-term mortgage rates decline? Mortgage costs are influenced by the 10-year Treasury yield which was lower this week, because the trade war…

Income Shares of the Top 1% in Various Countries The richest 1% of Americans take 20% of national income, but the richest 1% of the Dutch people only 6%. Denmark and the Netherlands are the…

S&P 500 Valuation – Forward P/E Ratio – May 10, 2019 S&P 500 Valuation: Forward P/E Ratio is 16.5 and equal to the 5-year average, above the 10-Year average (14.7).Based on the forward P/E ratio,…

IPOs Tend to Underperform the Market The evidence shows that, despite their higher risk, initial public offerings make poor investments. You may also like “Unicorn IPOs, Are They Good Investments?“

Sell in May and Go Away Is a Myth The S&P 500 Total Return from 1928 to 2018 shows that “Sell in May and Go Away” was not a winning strategy. Image: Charlie Bilello

Slow Growth is Good for Stocks In this Late-Cycle Expansion Slow growth maximises the length of the current US business cycle, and this is bullish for stocks. Image: James A. Kostohryz

S&P 500 1-Month Volatility History Since 1928 and VIX Since 1990 The stock market crash of 1929, the Black Monday of 1987 and the global financial crisis in 2008 were the most extreme events. Image:…

Leon Cooperman: Bull Market Cycles Don’t End at Fair Valuation, They Ended at Overvaluation “There is still more room for the market to run. We have a slowdown but not a recession and the market…