Global Employment and Global Real Retail Sales
Global Employment and Global Real Retail Sales Chart suggesting that the slowdown in global employment is expected to impact global real retail sales. Image: J.P. Morgan
Global Employment and Global Real Retail Sales Chart suggesting that the slowdown in global employment is expected to impact global real retail sales. Image: J.P. Morgan
Global Semiconductor Sales vs. MSCI World EPS Growth Chart suggesting that global semiconductor sales may have bottomed. That’s good news for global EPS growth. Image: Jeroen Blokland
Global Corporate Bond Sales Companies sold a record amount of bonds in September. Yield-seeking investors were served up $434bn of new corporate bonds globally. Image: Financial Times
Global Semiconductor Sales Lead U.S. GDP Growth This interesting chart suggests that global semiconductor sales lead U.S. GDP growth by six months. Image: Nordea and Macrobond
Semiconductor Sales vs. Global Earnings per Share The chart shows that semiconductor sales suggest a collapse in corporate earnings. Image: Jeroen Blokland
Semiconductor Sales vs. Global Trade (volume) Interesting chart showing the correlation of 0.78 between semiconductor sales and global trade (volume). Image: Paolo Cardena
Return and Valuation – Stocks with EV/Sales Ratios Above 20x as Share of U.S. Equity Trading Volumes and Market Capitalization The median stock with an EV/sales ratio above 20x has generated a subsequent 12-month return of -1% since 1985. Image: Goldman Sachs Global Investment Research
2020 Retail Sales in the U.S. and Euro Area This chart shows a sweet V-shaped recovery in U.S. and EU retail sales. Image: BofA Global Research
Inflation – S&P 500 LTM Sales Growth vs. Core CPI Since 1970 Rising inflation tends to boost S&P 500 earnings. According to Goldman Sachs, a 100bp increase in average annual core CPI would lift the S&P 500 EPS to $170 in 2021. Image: Goldman Sachs Global Investment Research
China Sales Exposure – Euro Stoxx 50 vs. S&P 500 Europe equities are more sensitive than the U.S. market, as the exposure of the Euro Stoxx 50 index to China is about twice that of the S&P 500. Image: Goldman Sachs Global Investment Research