Net % Bank Easing Standards for Small Business vs. NFIB Small Business Optimism Tighter lending standards have an impact on small business optimism. Image: BofA Global Investment Strategy
Sentiment – NFIB Small Business Optimism Index Small business sentiment rose in February to 90.9, but high inflation continues to weigh on small business optimism. Image: The Daily Shot
U.S. Nonfarm Payrolls vs. U.S. ISM Manufacturing New Orders U.S. nonfarm payrolls could potentially decline this year due to a weakening U.S. economy. Image: BofA Global Investment Strategy
Inflation – ISM Services Business Prices vs. Copper The rise of copper prices is a cause for concern as it can lead to higher prices for a variety of goods and services. Image: Steno Research
ISM Manufacturing Index vs. S&P 500 Index This chart shows the correlation between the ISM manufacturing index and the S&P 500 index year-over-year percent change, since 2011. The U.S. ISM Manufacturing Index increased to 47.7% in February. Click the Image to Enlarge
Average Monthly S&P 500 Return During Different ISM Cycle Phases Conditional on Bond Yield Changes Historically, rising bond yields are a headwind for U.S. equity returns. Image: Goldman Sachs Global Investment Research
Philadelphia Fed Manufacturing Index vs. U.S. ISM Manufacturing PMI The Philly Fed Manufacturing Index could lead to a further dip in the ISM Manufacturing PMI. Image: The Daily Shot
Indexed Return of Cyclicals vs. Defensives ex. Commodities and ISM Manufacturing Index Equity industry rotations are pricing in a soft landing. Image: Goldman Sachs Global Investment Research
U.S. ISM Manufacturing Index and U.S. Employment It is important to keep a close eye on the U.S. ISM Manufacturing Index for any changes in U.S. employment.
U.S. ISM Manufacturing Index vs. U.S. GDP Growth The current reading of the U.S. ISM Manufacturing Index could result in negative U.S. GDP growth. Image: True Insights