Gold Price Forecast Gold’s rally still has central banks at its back. Deutsche Bank remains bullish on the metal, putting fair value at about $4,700 an ounce by year-end, then $5,100 in 2027 and $5,442…

MSCI World Sector/Style Valuations Valuations are rich across sectors and styles, leaving investors with barely any cushion. In this market, even a small shift in sentiment can send prices sliding with little support below. Image:…

S&P 500 YoY EPS Growth The median S&P 500 company is set to deliver 12% EPS growth in Q2 2026, well short of the 26% surge forecast for the aggregate index. Image: Goldman Sachs Global…

Risky vs. Safe Assets Fund Flows As confidence returns, cash is pouring into risk assets while safer funds sit on the sidelines, pointing to a robust appetite for higher-return bets. Image: Goldman Sachs Global Investment…

U.S. High Yield Credit Spreads vs. VIX High-yield spreads are pricing in a smooth ride. Spreads are tight, balance sheets look solid, and the risk is that confidence slips into complacency. Active monitoring helps catch…

Seasonality – S&P 500 Index Average Monthly Returns August and September have rarely been kind to U.S. stocks, posting some of the weakest average returns of the year. With July, normally a strong month, now…

ISM Manufacturing Index vs. S&P 500 Index U.S. manufacturing picked up speed in July. The ISM Manufacturing Index climbed to 55.6, beating expectations of 54 and notching a seventh straight month of expansion. Momentum is…

Equity Net Long Positioning – Leveraged Funds and Asset Managers Net Future Positions Leveraged funds and asset managers have piled into long S&P 500 futures, pushing net exposure to a record. That screams risk appetite,…

Valuations – S&P 500 12-Month Fwd P/E Multiple – Top 5 Largest Stocks vs. Other 495 Stocks After nearly a decade of commanding sky-high multiples, the five largest U.S. stocks have lost their valuation premium,…

S&P 500 Quarterly EPS Seasonally Adjusted S&P 500 earnings are running 14% above their nine-decade trend line. Any pullback toward the mean would make today’s rich valuations look fragile fast. Image: Deutsche Bank

Proportion of S&P 500 Beating Earnings Estimate There’s no sign of cracks in earnings momentum. Almost 88% of S&P 500 companies are beating earnings estimates, with the beat rate running well ahead of the 74%…