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Economy

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Ratio of property prices to household income in select cities

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Reversal of four secular corporate tailwinds could weigh on profit margin expansion over the longer term

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Cycles of US and international equity outperformance since 1971

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Percent of total US population 65 and over since 1950

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Wholesale prices in the US (rolling 10-yr. average, annually, %) since 1750

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Percent of Russell 3000 growth stocks with negative earnings since 1980

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Household net worth in the US by income group since 2005

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Adding alternatives can increase diversification when stocks and bonds are positively correlated

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International: Price-to-earnings discount and dividend yields vs. US since 2001

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Nominal and real 10-year Treasury yields since 1958

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