Monetary Policy and Fed Funds Rate

Monetary Policy and Fed Funds Rate According to market rates, monetary policy is more neutral than accommodative. Image: Danske Research

S&P 500 Realized Volatility by Year

S&P 500 Realized Volatility by Year 2020 volatility estimate of 14.7 is above the median, but below the mean (data from January 1929 to December 2019). Image: Goldman Sachs Global Investment Research

Global Equity Flows

Global Equity Flows A lot of investors are chasing returns, driving stocks higher. Image: Deutsche Bank Asset Allocation

S&P 500 Earnings and Net Buybacks

S&P 500 Earnings and Net Buybacks Buybacks have been trending lower over the last two quarters. Deutsche Bank expects buybacks to slow to $625bn in 2020. Image: Deutsche Bank Asset Allocation

Fiscal Impulses in Japan and the Eurozone

Fiscal Impulses in Japan and the Eurozone Japan and the eurozone are expected to benefit from significant fiscal stimulus next year. Image: Gavekal, Macrobond

NBER Recession Dating vs. Market Realization

NBER Recession Dating vs. Market Realization Chart showing the monthly lag between the economic peak and the NBER announcement. NBER announcements don’t really help investors. Image: Real Investment Advice