China Credit Impulse and Global Exports, China M1 and Industrial Commodity Prices (Leading Indicators) China credit impulse tends to lead global exports by 12 months. Image: Alpine Macro
Risky Assets and Fed Balance Sheet (M1) Growth Should investors be worried about the Fed’s balance sheet growth? Image: Morgan Stanley Research
M1 Money Supply Growth YoY The M1 money supply in the United States has grown faster than any time in history. Image: Gavekal, Macrobond
U.S. M1 Money Supply Growth vs. Steepness of U.S. Yield Curve The U.S. yield curve is expected to steepen as M1 money supply growth goes to the moon. Image: Longview Economics
Global Real M1 vs. MSCI World Total Return (Leading Indicator) Global real M1 suggests that 2021 could be a good year for risky assets. Image: Nordea and Macrobond
Eurozone Real M1 Money Supply Growth vs. Real GDP Growth This chart suggests the relationship between real M1 growth and euro area GDP growth. Image: Longview Economics
China Real M1 Leads World Industrial Production Chart suggesting that China’s real M1 leads world industrial production by 6 months. Image: Nordea, Sebastian Dypbukt Källman
China M1 Money Supply Growth Leads MSCI World Index Chart suggesting that China M1 money supply growth leads the MSCI World Index by 6 months. Image: Paolo Cardena
China – Required Reserve Ratio vs. M1 Money Supply Growth The People’s Bank of China slashed the reserve requirement ratio for most financial institutions, but M1 money supply growth is currently near the lowest. This is not good news for GDP growth. Image: Jeroen Blokland
Real M1 Leads Euro Area Real GDP Growth An imminent recession in the euro area? This interesting chart suggests that real M1 leads euro area real GDP growth by 12 months. Image: Pictet Wealth Management