Wealth and Spending by Income Quintile in the U.S. The middle 60% of Americans control just 26% of the nation’s wealth but account for more than half of all spending. Whether they can keep it up depends on how long the labor market stays strong. Image: J.P. Morgan Asset Management
S&P 500 Cash Spending Relative to Cash Flows Many S&P 500 companies devote substantial cash flow to stock buybacks, a practice that benefits shareholders in the short term but sparks concerns about favoring short-term gains over long-term growth. Image: Goldman Sachs Global Investment Research
Real U.S. Consumer Spending During the first half of 2025, U.S. inflation-adjusted consumer spending contracted—the weakest pace seen in over 15 years—driven by cautious consumer behavior amid tariff concerns and economic uncertainties. Image: Deutsche Bank
2025 Projected U.S. Federal Spending While the idea of cutting $2 trillion from U.S. federal spending is appealing in theory, the practical challenges and political realities make it a daunting task. Image: Morgan Stanley Wealth Management
U.S. Government Spending U.S. government spending fell by 6% year-over-year, marking a notable shift. Image: BofA Global Investment Strategy
Gold – Beta of USD/xxx to Equity Market Volatility Related to Government Spending Gold has been a very good hedge against debt ceiling worries in the past. Image: Deutsche Bank
Equity Market Volatility Related to Uncertainty over Government Spending Equity market volatility may spike when the debt ceiling is under discussion. Image: Deutsche Bank
S&P 500 Performance and Discretionary Retail Spending (Leading Indicator) The performance of the S&P 500 tends to lead discretionary retail spending by 9 months. Image: TS Lombard
Commodities – Commodity Price Shock, Percent of Consumer Spending The commodity price shock on consumers is not yet at the level of the 1970s. Image: Goldman Sachs Global Investment Research
Impact on U.S. Consumer Spending If Oil Prices Rise to $120 If oil prices remain elevated, will the Fed raise interest rates more gradually than markets expect? Image: J.P. Morgan Asset Management
U.S. Consumer Sentiment vs. Consumer Spending Americans continue to spend despite rising prices. Image: J.P. Morgan Asset Management