Repo Market (Outstanding Repos) and Reserve Demand Curve The Fed will expand its balance sheet again, by purchasing Treasury bills at least until mid-2020, which should rebuild the level of reserves in the system to $1.7 trillion. Picture source: BofA Merrill Lynch
China Domestic Policy and Emerging Markets Growth Cycles Great chart suggesting that changes in China domestic policy have been a big driver of EM growth cycles. Picture source: Goldman Sachs Global Investment Research
U.S. Labor Market Distributions Spider Chart The U.S. Labor Market Distributions Spider Chart shows broad labor market developments. Currently, the U.S. labor market is slipping a little.
U.S. Market Cycle Indicators Chart suggesting that the current business cycle’s end is not imminent in the U.S.. The risk of a bear market is low when the number of market cycle indicators is greater than 10. Picture source: Richardson GMP
Flows into Money Market Funds Just like 2007/2008, investors move to safe assets by raising their cash holdings, despite falling rates. Picture source: BofA Merrill Lynch
S&P 500 Return – Longest Bull Markets Ever Chart showing the longest equity bull markets ever. October 9, 2019 was the bottom in 2002 and peak in 2007. Picture source: Ryan Detrick, LPL Financial LLC
Emerging Markets and Liquidity Cycles This chart shows that investing in emerging markets also requires an understanding of global liquidity cycles. Picture source: Fidelity Investments
Earnings Estimates: Emerging Markets Emerging markets are the hardest hit by the trade war. Picture source: Fidelity Investments
Emerging Markets Growth Stocks vs. U.S. Growth Stocks This chart suggests that emerging markets growth stocks are cheapest vs. U.S. growth stocks since 2002. Picture source: BofA Merrill Lynch
Fund Flows into Emerging Markets Stocks and Bonds The rotation into bonds and out of equities continues. Picture source: HSBC
