China Credit Impulse Leads Global Manufacturing PMI

China Credit Impulse Leads Global Manufacturing PMI China credit impulse tends to lead global manufacturing PMI by 12 months. Credit impulse is the change in new credit issued as a percentage of GDP. Image: Nordea and Macrobond

United States vs. China Stock Funds Flows

United States vs. China Stock Funds Flows This year, inflows into U.S. stock funds exceed inflows into China stock funds. Does the scale of the stimulus in the U.S. act like gravity? Image: CNBC

Returns – G7 + China Free Liquidity and MSCI ACWI (Leading Indicator)

Returns – G7 + China Free Liquidity and MSCI ACWI (Leading Indicator) Global free liquidity continues to rise. When global free liquidity is above 10%, equity markets tend to perform well: the average next 12-month return is 23.4% with a hit ratio of 100% since 2009. Image: BofA Global Research