S&P500 Forward 12-Month P/E Ratio - Source: DataTrek/Bloomberg

13/02/2024

S&P500 Forward 12-Month P/E Ratio – Source: DataTrek/Bloomberg

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Afternoon report 18/05/2026

The Match Out: ASX sinks as inflation fears kick up, Tuas gets whacked

The ASX opened lower and looked weak throughout the session today, with the 8500 level providing some support through the afternoon, though there were few real signs of a meaningful bounce. Rising oil prices and another sharp move higher in bond yields continued to weigh heavily on sentiment as markets grapple with the prospect of higher for longer outlook on rates.

Morning report 18/05/2026

Macro Monday: Unsettled bond markets are starting to weigh on equities

Despite Friday’s pullback, US equities still enjoyed their 7th consecutive week of gains, although the rally has become increasingly concentrated on the stock and sector level. Eight of the 11 S&P 500 sectors have fallen so far this month, with most of the upside concentrated in “Big Tech” – just four stocks are responsible for more than half of the S&P 500’s gains this year. Even as key equity sectors wobbled and yields advanced, financial markets stayed firm into Thursday, helped by strong corporate earnings.