Deutsche Bank on a record run for US equities – with no mean reversion in sight ahead | Forexlive

Deutsche Bank on US equites:

• We
  are in rarefied air in terms of the relentless risk rally since the end
  of October.
• the S&P 500 has now been up for 15 out of the last
  17 weeks … the first time since 1989 that’s happened, and before
  that you’d need to go back to 1972 for such a run
• If we get yet another
  advance this week, it would be 16 out of 18 for the first time since
  1971, the joint record in an 18-week run.

One for the record books. So, pull back time? Perhaps not. DB go on:

• Interestingly,
  looking at all such 15/17 week runs, the median price performance in
  the next 13 and 26 weeks is +2.0% and +5.5%, respectively, which are
  both high relative to an annual price move of around 6% over the last
  100 years. So there is no specific evidence, from history, of mean
  reversion once you see one of these runs.

In a separate note from DB, analysts say that inflows to equities over the past 5 weeks have been the strongest in 2 years, around USD75bn, and:

• inflows to bond funds ($15.2bn) this week also accelerated to the
  highest in 13 months and were broad-based