🇺🇸 #SPX | Real earnings yield dipped below zero just before the bear-market declines of 1987, 2000 and 2008, providing a useful warning signal – Bloomberg
*While the level is currently sitting a little under 2%, it’s near the lows of the post-Great Financial Crisis era. pic.twitter.com/nGbGfSpuDH
— Christophe Barraud🛢 (@C_Barraud) January 19, 2021
China's growth is real. But it's two-speed growth and the problem for the world is that it may be about to slow. (h/t @TS_Lombard @Gavekal @SocieteGenerale) https://t.co/U7Pg48gA1o via @bopinion pic.twitter.com/kBjQn0mfcW
— John Authers (@johnauthers) January 19, 2021
Risk on pic.twitter.com/gywZxbMi0K
— Sven Henrich (@NorthmanTrader) January 19, 2021
According to BofA, the earnings revision ratio is back near previous peaks. While we could see earnings revised higher over the next couple of quarters, we may be near the peak of expectations. pic.twitter.com/NT33xpFyXU
— Lance Roberts (@LanceRoberts) January 19, 2021
Dollar positioning (updated).
Speculators are historically Short the Dollar – in the Bottom 1.5% of all time.
DXY is near key support and showing initial signs of a bottom.
A Dollar rally could be strongly negative for risk assets – watch closely for basing, will revisit soon. pic.twitter.com/VJsfW591PL
— Macro Charts (@MacroCharts) January 19, 2021