Central Bank Balance Sheet Expansion and Local Stock Returns Central bank balance sheet expansion matters, but not as much as investors think. Image: Jeroen Blokland

Global Central Bank Balance Sheet Growth and Quantitative Easing BofA suggests that global central bank balance sheets will peak at $879bn in September 2020. Image: BofA Global Investment Strategy

Global Central Bank Balance Sheets Global central bank balance sheets have grown to $21 trillion, roughly equivalent to the GDP of the United States. Image: Real Investment Advice

Confidence in Central Banks and Cryptocurrency This chart suggests substantial loss in confidence in some central banks. Image: Financial Times

Annual Purchases of Gold by Central Banks The first three quarters of 2019 were the largest central banks purchase of gold in recent history, due to geopolitical tensions. Image: J.P. Morgan

Bank Reserves and S&P 500 J.P. Morgan suggests that Fed-injected liquidity is not the reason for the rise in the valuation of risk assets. Image: J.P. Morgan

Commercial and Industrial Loans of U.S. Banks as % of GDP vs. Deliquency Rate Is the end of the U.S. credit cycle near? The delinquency rate remains low, while U.S. business loans are close to previous highs. Image: Pavilion Global Markets

Cash – Banknotes and Coins in Circulation as a Percentage of GDP This chart suggests that negative interest rates can increase the demand for cash. Image: Deutsche Bank Global Research

Rate Decisions by Global Central Banks This chart puts into perspective rate decisions by central banks around the world. Global central banks haven’t cut this much since the Great Financial Crisis.

S&P 500 Return vs. Economic Data and Central Bank Balance Sheets Charts suggesting that economic data drives S&P 500 returns, not central bank balance sheets. Image: Arbor Research & Trading LLC