Asset Return Expections on a Five-Year Horizon
Asset Return Expections on a Five-Year Horizon Government bond returns are expected to be negative across developed markets on a five-year horizon. Source: BlackRock Investment Institute
Search Results for: bond market
S&P 500 Returns – Obama vs. Trump
S&P 500 Returns – Obama vs. Trump Two charts comparing Obama’s vs. Trump’s stock market returns. Image: Gavekal, Macrobond
Price Return Indexes – MSCI World ex-US and US Valueline Composite Index
Price Return Indexes – MSCI World ex-US and US Valueline Composite Index Where is the bull market exactly? Today, the Valueline composite index, considered as a proxy for the U.S. market’s performance, stands at the same level as in 1998. Image: Gavekal, Macrobond
Total Returns – Gold, Nasdaq and MSCI World ex-US
Total Returns – Gold, Nasdaq and MSCI World ex-US With the Nasdaq at all-time high, markets expect a weak global growth, low inflation and a strong U.S. dollar. Image: Gavekal, Macrobond
M2 Money Supply and S&P 500 vs. Japan M2 and Topix
M2 Money Supply and S&P 500 vs. Japan M2 and Topix M2 is rising significantly in the U.S., as during the Japanese bubble market of the 1980s. Image: Gavekal, Macrobond
Housing – Property Sales Volume and Construction Starts
Housing – Property Sales Volume and Construction Starts This chart shows the impact of the coronavirus crisis on the property market. Image: Gavekal, Macrobond
Credit Spreads on High-Quality U.S. Corporates
Credit Spreads on High-Quality U.S. Corporates Credit spreads on high-quality U.S. corporates are widening and are flashing a warning sign for markets. Image: Gavekal, Macrobond
S&P 500 – Performance since 2016 vs. Performance since 2019
S&P 500 – Performance since 2016 vs. Performance since 2019 The U.S. stock market is on fire. Will history repeat itself? Image: Gavekal, Macrobond
QE in 2020 and Central Banks (the Fed, ECB and BoJ)
QE in 2020 and Central Banks (the Fed, ECB and BoJ) Central banks’ QE should support financial markets next year. Image: Gavekal, Macrobond
Buybacks – Cumulative Net Buying of U.S. Corporate Equity
Buybacks – Cumulative Net Buying of U.S. Corporate Equity This chart shows that since 2009, buybacks have been the source of the rally in the U.S. stock market. Image: Oxford Economics, Macrobond
Trade War and Financial Conditions Index
Trade War and Financial Conditions Index The trade war has tightened the Goldman Sachs FCI by about 60bp cumulatively. The Goldman Sachs Financial Conditions Index (FCI) is a weighted sum of a long-term corporate yield, a short-term bond yield, the exchange rate, and a stock market variable. Image: Goldman Sachs Global Investment Research