Search Results for: manufacturing

S&P 500 and Manufacturing PMI Morgan Stanley expects the S&P 500 to decline 10-20% by year-end 2021. Image: Morgan Stanley Research

ISM Manufacturing Index vs. Discretionary Investors Positioning The correlation between discretionary investor equity positioning and ISM manufacturing is quite strong at 67%.

ISM Manufacturing Index and ISM Prices Paid Index (Leading Indicator) The ISM Prices Paid Index tends to lead the ISM Manufacturing Index by 12 months, suggesting a mid-cycle shift this year. Image: Morgan Stanley Research

ISM Manufacturing Index vs. S&P 500 Index This chart shows the correlation between the ISM manufacturing index and the S&P 500 index year-over-year percent change, since 2011. The U.S. ISM Manufacturing Index increased to 59.9% in August. Click the Image to Enlarge

Cyclicals/Defensives vs. ISM Manufacturing PMI Should investors favor defensive stocks for the rest of the year? Image: Nordea and Macrobond

Aggregated U.S. Equity Futures Positions vs. ISM Manufacturing The correlation between aggregated U.S. equity futures positions and ISM manufacturing remains quite strong. Image: Deutsche Bank Asset Allocation

Lumber/WTI Crude Oil and ISM Manufacturing PMI (Leading Indicator) Slower economic growth is expected over the next 14 months. Image: Gavekal, Macrobond

Coronavirus – Manufacturing PMI Output Index and COVID-19 Vaccination Rate COVID-19 vaccination rates tend to drive economic growth. Image: IHS Markit

China Credit Impulse Leads Global Manufacturing PMI China credit impulse tends to lead global manufacturing PMI by 12 months. Credit impulse is the change in new credit issued as a percentage of GDP. Image: Nordea and Macrobond

U.S. 10Y-2Y Treasury Yield Curve and U.S. ISM Manufacturing Index In a situation of extreme excess liquidity, is the U.S. 10Y-2Y yield curve a broken indicator? Image: Morgan Stanley Wealth Management