Equities Allocation by G10 and U.S. Investors Across the G10, equity exposure in household, pension, and insurance portfolios has moved up significantly, nearing record highs. Image: Goldman Sachs Global Investment Research
S&P 500 vs. G10 Excess Liquidity Leading Indicator As G10 excess liquidity remains in negative territory, the outlook for U.S. equities over the next six months darkens. When liquidity drains, stocks tend to feel it. Image: Bloomberg
G10 Policy Rates The majority of G10 central banks are either currently cutting rates or are expected to start soon, reflecting a broader global disinflationary trend and changing economic conditions. Image: Goldman Sachs Global Investment Research
G10 FX Carry Trade Index The Bank of Japan’s recent actions caused market turmoil termed an “ugly deleveraging event,” reflecting ongoing economic challenges in Japan. Navigating a post-deflationary landscape adds complexity to the situation. Image: BofA Global Investment Strategy
G10 Central Bank Balance Sheets The shrinking of G10 central bank balance sheets is a significant factor that can impact liquidity and potentially act as a headwind for equities. Image: Deutsche Bank
U.S. Dollar and Policy Rate: Fed Minus G10 Excluding U.S. Should investors turn bearish on the U.S. dollar? Image: Alpine Macro
10-Year Yield: U.S. vs. G10 excluding U.S. Should investors expect global bond yields to fall? Image: Alpine Macro
Trade-Weighted Dollar vs. G10 Citigroup Economic Surprise Index Will the U.S. dollar trend weaker in 2023? Image: BCA Research
G10 Latest and Consensus Inflation Rates The inflation genie is out of the bottle, but consensus still expects inflation to drop to 2% by 2024. Image: BofA Global Research
U.S. Dollar Index vs. G10 Breadth Will the U.S. dollar move lower after the recent spike? Image: Topdown Charts
U.S. Dollar Index (DXY) vs. U.S. Minus G10 (Ex. U.S.) 2-Year Yield Rising U.S. interest rates tend to make the U.S. dollar stronger. Image: Alpine Macro