The Great Flight To Quality: Goldman Sees Investors Panic-Buy 'Safe' Stocks At Pace Not Seen Since COVID While Rest Of Market Rots

One of the more interesting dynamics in US equities remains the large disconnect between the S&P and the average stock.

While SPX sits within 1% of all-time highs, the median S&P stock is now 16% below its own high. By Goldman's preferred measure, breadth has now deteriorated to its weakest level since the Dot-Com Bubble.