Global Money Supply and MSCI World Index Equities are around 1 standard devation vs. global money supply. It could be bullish for stocks, as global money supply growth tends to push equities higher. Image: Nordea and Macrobond
S&P 500 vs. Global Money Supply The new high in global money supply could be bullish for stocks, as global money supply growth tends to push U.S. equities higher. Image: Fidelity Investments
Asset Bubbles and Tight Money Should the Fed raise rates to prick the tech bubble? Image: Alpine Macro
Money Market Fund Assets (U.S.) More upside for stocks? As U.S. money market fund assets have slowly declined since the peak in May 2020. Image: BofA Global Research
Gold Price vs. Money Supply M2 Money supply M2 is growing at an increasing pace. Could gold follow? Image: Nordea and Macrobond
U.S. Money Supply M2 Today U.S. money supply M2 growth is more than six times the structural growth rate of U.S. nominal GDP. Image: Gavekal, Macrobond
U.S. Money Supply M2 Growth U.S. money supply M2 growth is going parabolic compared to the global financial crisis. Image: Morgan Stanley Research
Blended Money Supply vs. U.S. Nominal GDP Historically, U.S. nominal GDP growth tends to track money supply growth. More inflation to come? Image: Deutsche Bank
Eurozone Real M1 Money Supply Growth vs. Real GDP Growth This chart suggests the relationship between real M1 growth and euro area GDP growth. Image: Longview Economics
S&P 500 Market Cap/M2 Money Supply The S&P 500 market capitalization relative to M2 money supply suggests more upside. Image: Morgan Stanley Research