Cumulative Fund Flows Across Assets Many investors continue to favor the relative safety of bonds and money market funds over riskier equities, amid ongoing geopolitical tensions and relatively high interest rates. Image: Goldman Sachs Global Investment Research
Performance – S&P 500 Relative to FTSE All-World Excluding U.S. US stocks have sunk to a two-year low versus global peers, as tariffs bite and AI gains stay concentrated among a handful of megacaps. Diversifying beyond the U.S. is paying off. Image: Bloomberg
Margin Debt as Percentage of M2 (Measure of Leverage) Leverage lifts returns when markets climb but reveals the weak spots when sentiment turns. Margin debt, as a share of the money supply, now stands at its highest since the dot‑com boom. Image: Real Investment Advice
Gold to S&P 500 Ratio Gold’s outperformance has pushed the Gold-to-S&P 500 ratio to its highest since 2013, signaling a defensive shift but not yet the kind of rush to safety seen during crisis years. Image: Goldman Sachs Global Investment Research
Valuation Ranges of MSCI World Styles Indices Across markets and styles, valuations remain lofty amid AI-driven optimism and market concentration, forcing investors to pick their spots carefully. Image: Goldman Sachs Global Investment Research
MSCI World Performance vs. U.S. Dollar Index The link between the US dollar and global equities is often decisive. A softer dollar usually lifts stock markets worldwide, while a firmer one tends to weigh them down. Image: J.P. Morgan
Risky vs. Safe Assets Fund Flows A tilt toward safe assets shows investors growing wary of market risk and intent on protecting capital. Image: Goldman Sachs Global Investment Research
Bloomberg’s Global 60/40 Equity/Fixed Income Portfolio The global 60/40 portfolio has hit a record high, showing fresh momentum and reaffirming its role as a cornerstone for investors seeking balance and steady long-term gains. Image: Deutsche Bank
S&P 500 Returns When January Is Up Between 0-2% The bulls have history on their side: when the S&P 500 gains between 0% and 2% in January, the next 11 months have gone higher 92% of the time since 1950, posting a median gain of 13.6%. Image: Carson Investment Research
Gold Price vs. S&P 500 Gold has recently surpassed $5,000 per ounce, but it still looks cheap next to a balanced 50/50 portfolio of U.S. stocks and Treasuries. Image: Bloomberg
Returns for Major Global Financial Assets March proved rough for investors. The Middle East conflict rattled global markets, spiked oil prices through Hormuz supply fears, and spilled over into equities, bonds, and traditional safe-havens. April might promise a bit of relief. Image: Deutsche Bank