U.S. Consumer Confidence and CEO Confidence The trade war keeps weighing on CEO confidence, which is near record lows, while consumer confidence has remained relatively strong. Image: Goldman Sachs Global Investment Research
Private Sector Debt Private sector debt is high in China, extremely high in Sweden, and continues to rise. Source: Gavekal
Stocks, Bonds and Commodities Performance During U.S. Presidential Election Years Historically, since 1900, stocks and bonds have struggled in the first half of U.S. presidential election years. Image: Wells Fargo Investment Institute
Demographics – Labor Force Growth and Term Premium Chart suggesting that growth in the labor force could explain the term premium. The term premium is the risk premium (or the bonus) that investors receive for the risk of owning longer-term bonds. Image: Fidelity Investments
Inequality – Number of Millionaires by Country How many millionaires are in the U.S.? 18,614K millionaires, more than any other country in the world. Image: howmuch.net
U.S. Energy Balance Leads Oil-Dollar Correlation Interesting chart suggesting that the U.S. real energy balance leads the oil-dollar correlation by three years. Image: Oxford Economics, Macrobond
U.S. High Yield Bonds and Leverage Loans The pace of downgrades has accelerated in the U.S. leveraged loan market, despite declining interest rates. Image: Goldman Sachs Global Investment Research
U.S. Stock Market Performance During U.S. Presidential Election Years Chart showing the average performance of the Dow Jones Industrial Average during U.S. presidential election years, since 1900. Image: Wells Fargo Investment Institute
U.S.: Market Odds of A Fourth Rate Cut The Fed may be inclined to press the pause button in the “mid-cycle” policy easing. Image: Oxford Economics
Russel 2000 and Unprofitable Small Caps The proportion of small caps that are unprofitable has climbed to nearly 30%. This level is generally only observed during recessions. Image: BofA Merrill Lynch Global Research
S&P 500 Index Returns After Three 25 Basis Point Rate Cuts After three rate cuts of 25 basis points in 1975, 1996 & 1998, the S&P 500 was, on average, up more than 10% six months later and 20% one year later. Image: LPL Research