Global Manufacturing PMI and Global Consumer Discretionary vs. Staples The global consumer discretionary vs. staples relative performance suggests that the global manufacturing PMI could be trending towards expansion, which is good news. Image: Topdown Charts

Annual Change in Monetary Supply Draining liquidity has historically been a major concern in financial markets, as it can lead to significant disruptions and have broader impacts on the economy. Image: Real Investment Advice

FMS Investors – Net % Think High Grade Will Outpferform High Yield Bonds Will high yield bonds outperform IG bonds over the next 12 months? Image: BofA Global Fund Manager Survey

What Is the Best Way to Position in Equities in the Current Environment? Should investors favor defensive equities in the current environment of slow economic growth with inflation? Image: J.P. Morgan

Volatility – S&P 500 vs. 12-Month Count of Daily Changes of -1% or Lower Is this the end of the bear market, as volatility has peaked? Image: Topdown Charts

S&P 500 Realized 10-Year Dividend Annualized Growth Rate Goldman Sachs expects a 10-year compound annual growth rate of 6.2% for S&P 500 dividends. Image: Goldman Sachs Global Investment Research

When Do You Expect the Next U.S. Recession to Start? Will the next U.S. recession start in 2H 2023? Image: J.P. Morgan

Sentiment – NAHB Home Builder Optimism Index U.S. home builder sentiment improved for the fourth consecutive month in April, which is good news for the housing market. Image: The Daily Shot

Net % of FMS Investors Overweight U.S. Equities vs. Bonds FMS relative positioning in stocks vs. bonds remains low. Image: BofA Global Fund Manager Survey

U.S. Real Rates U.S. real rates remain above the 20-year average. Image: J.P. Morgan

U.S. Dollar and U.S. vs. Emerging Market Stocks When the U.S. dollar is weak, emerging market stocks tend to outperform U.S. stocks. Image: BofA Global Investment Strategy