Central Banks – Global Monetary Policy Stimulus Leads Global Manufacturing PMI Global monetary policy stimulus tends to lead global manufacturing PMI by 8 months. Is a hard landing inevitable? Image: Topdown Charts
Global Monetary Policy Rates Will inflation cause central banks to tighten monetary policy quicker than expected? Image: Topdown Charts
Global Monetary Policy Map Many central banks around the world are raising interest rates. Image: Topdown Charts
FMS Investors – Net % That Monetary Risk to Be Above Normal Does tightening monetary policy pose the greatest risk to financial market stability? Image: BofA Global Fund Manager Survey
Monetary Policy – China vs. U.S. Homebuilders China and the United States are expected to diverge on monetary policy this year. Image: BofA Global Investment Strategy
Central Banks – Market Risk Trend and Economic Policy Trend Chart suggesting that risk assets’ sensitivity to political risks has been neutralized by central banks’ QE and dovish monetary policy stance. Image: Image: BofA Global Research
VIX and Fed Monetary Policy This year, the VIX average has been similar to 2018, despite Feds’ policy U-Turn in January. Image: BofA Merrill Lynch Global Research
Global Financial Conditions Index and Global Manufacturing PMI Chart suggesting that easier financial conditions should feed through to growth, unless monetary policy is less effective. Image: Goldman Sachs Global Investment Research
A Hall of Mirrors in Monetary Policy? This chart suggests a feedback loop between bond market pricing and central bank decisions. Image: Goldman Sachs Global Investment Research
Earnings – STOXX Europe 600 EPS Level Thanks to an accomodative monetary and fiscal policy, the STOXX Europe 600 EPS is growing much faster than during the last cycle (2007-2019). Image: Goldman Sachs Global Investment Research