Are you nervous about the markets?
Worried we could break down from here?
Worried about the move in the bond markets?
Worried about blowups in the credit markets?
Congratulations.
You are consensus.
50% of investors are bearish. Another 18% aren’t sure.
In this month’s 50 slide pack (link below) we cover:
S&P 500 Earnings Estimates
BofA Fund Manager survey highlights
Sentiment indicators
Hong Kong the cheapest market in the world
Charts from the YWR Shipping call.
But here are 5 charts which suggest the S&P 500 moves higher from here.
#1 Earnings estimates are going vertical.
#2 The stock market is looking cheap for once. The S&P 500 is now trading below the 10 year average forward P/E.
#3 This 30 day move in bond yields is in the 97th percentile. The time to worry about bonds was back in August.
