Goldman Traders' Top Charts: Record Returns, Record Debt, & A Market Supported By Fewer & Fewer Stocks

Today excluded, the headline tape has been kind to investors this year, but the charts underneath it are less tidy.

Equity returns sit in the far-right tail of history, and for once that has been earned rather than just multiple-expanded: earnings have come through and, unusually, consensus has been revised up. That is the bullish half of the story.