Gold Price vs. U.S. 10-Year Real Rates (Using Breakeven Inflation Rate) Pictet expects gold prices to reach new highs to US$2,150/oz in the next 12 months. Image: Pictet Wealth Management
Interest Rates – Fed Funds Rate Goldman Sachs expects the federal funds rate to rise in early 2025. Image: Goldman Sachs Global Investment Research
U.S. Interest Rates – Velocity of MZM Money Stock and Natural Rate of Interest Should investors expect low interest rates for a long period of time? This chart helps to explain the secular trend for U.S. interest rates. Image: Fidelity Investments
Interest Rates – Fed Funds Futures Curve Markets no longer expect negative rates in the United States. Image: The Daily Shot
Number of Consecutive Months with Real Yield and Breakeven Rates Moving in Opposite Directions Real yield and breakeven rates have started to move higher together. Image: Goldman Sachs Global Investment Research
U.S. 30-Year Mortgage Rates vs. 10-Year U.S. Treasury Yield U.S. 30-year mortgage rates have fallen to record low, but remain elevated relative to the 10-year U.S. Treasury yield. Image: Goldman Sachs Global Investment Research
S&P 500 Monthly Performance Based on U.S. 10-Year Rates Move Since 1998 Historically, large increases of real rates tend to weigh on equities. Image: Goldman Sachs Global Investment Research
S&P 500 Returns and Real Rates Correlation The correlation between S&P 500 returns and real rates has turned negative. Image: Goldman Sachs Global Investment Research
Interest Rates Since 3000BC This chart shows just how historically low interest rates are. Image: BofA
Real Interest Rates Since 1314 Since 1314, real interest rates have been on a long-term downward trend. Image: Goldman Sachs Global Investment Research