Economy

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The S&P 500 had officially entered a bear market in 2022

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Annual dispersion of CTA managers

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Within secular, cyclical bears tend to be relatively short, shallow or both

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US wealth growth vs. US GDP growth since 1951

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Real Fed funds rate since 1960

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How many dollars one euro buys

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How stocks perform around recessions since 1953

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Contributors to Bloomberg aggregate total return in Fed hiking cycles

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Percent of S&P 500 total market cap with P/S > 10x since 1964

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Global stock price index during cyclical bears within secular bulls

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