Citi Global Economic Surprise Index and Baltic Dry Index The divergence between the Baltic Dry Index and the Citi Global Economic Surprise Index could suggest that “global economy is likely to bottom soon.” Picture source: Nomura
S&P 500 and U.S. Economic Surprises This chart shows the current divergence between the S&P 500 and the 12-month moving average of the U.S. economic surprise index. Picture source: Oxford Economics and Macrobond
S&P 500 vs. U.S. Economic Surprises This chart shows the large divergence between the S&P 500 Total Return and the U.S. economic surprise. You may also like “S&P 500 at Risk of a 10% Correction.” Picture source: Nordea and Macrobond
Citigroup Economic Surprise Index vs. 10-Year Treasury Yield This chart shows a good correlation between Citigroup Economic Surprise Index and 10-year Treasury yield. Lower yields ahead? You may also like “For the Last Few Years, Equity Markets Have Been Leading Bond Markets.” Picture source: Yardeni Research, Inc.
