U.S. vs Emerging Market Equities Relative Price Performance Will the secular outperformance of U.S. equities vs. emerging market equities come to an end in 2024? Image: BofA Global Investment Strategy
U.S. 10-Year Treasury Yield – Monthly Chart The gradual approach of the U.S. 10-year Treasury yield towards the secular target carries significant implications for various sectors of the economy and financial markets. Image: BofA Global Research
S&P 500 and the Small Caps vs. Large Caps Ratio The S&P 500 remains in a secular bull market. Image: BofA Global Research
Stock Market Strength vs. Volatility 2022 starts to smell like 2008. Are U.S. stocks in a secular bear market? Image: Willie Delwiche
Commodities – Commodity Prices Is the spike in commodity prices a long-term secular bull market? Image: Alpine Macro
Stocks – World Value vs. Growth Growth has outperformed Value since the GFC. Does the secular trend still favor Growth? Image: Goldman Sachs Global Investment Research
Emerging Market Stocks – EM Consumer Discretionary + Tech vs. EM Energy + Materials This chart highlights the secular rotation from healthcare/tech to energy/financials. Image: BofA Global Investment Strategy
Inflation – S&P 500 and the CPI YoY Index The secular chart could suggest a late 1950s pattern. Rising inflation is not necessarily bearish for the S&P 500. Image: BofA Global Research Click the Image to Enlarge
S&P 500 Total Return – The Market Cycle Since the March low, the U.S. stock market continues to behave like a secular bull market. Image: Fidelity Investments
U.S. Interest Rates – Velocity of MZM Money Stock and Natural Rate of Interest Should investors expect low interest rates for a long period of time? This chart helps to explain the secular trend for U.S. interest rates. Image: Fidelity Investments
S&P 500 Cash Return Payout Ratios (% of Net Income) S&P 500 payout ratio is in secular decline, as S&P 500 companies shift to buybacks. Image: Goldman Sachs Global Investment Research