Recession – Net % of Banks Reporting Stronger Demand vs. Tightening Standards Will the credit crunch lead to a recession in the United States? Image: Alpine Macro

Russell 2000 / S&P 500 vs. ISM Manufacturing PMI (Leading Indicator) The performance of U.S. small caps relative to the S&P 500 suggests a decline in the ISM Manufacturing PMI. Image: Morgan Stanley Research

Yield Curve – U.S. 10-Year – 2-Year Government Bond Spread Historically, the re-steepening of the 10Y-2Y U.S. Treasury yield curve from the trough has preceded recessions. Image: The Daily Shot

U.S. Bank Failures U.S. bank failures could lead to wider economic impacts, both within the Unites States and around the world. Image: Morgan Stanley Wealth Management

U.S. Dollar Index vs. 10Y-3M Real U.S. Yield Curve The 10Y-3M real U.S. yield curve suggests a weaker U.S. dollar over the next 12 months. Image: Bloomberg

Deposits, All Commercial Banks Will U.S. banks continue to experience a decline in deposits. Image: The Daily Shot

U.S. 10Y-2Y Yield Curve and Initial Jobless Claims A steepening yield curve tends to occur when jobless claims surge. Image: BofA Global Investment Strategy

Fed Discount Window Usage vs. S&P 500 The Fed’s discount window borrowing has reached an all time high. What could go wrong? Image: BofA Global Investment Strategy

U.S. Fed Funds Rate and Financial Events History repeats itself over and over again, as Fed tightening cycles end with a financial event. Image: Deutsche Bank

S&P 500 Borrow Cost vs. U.S. 10-Year Treasury Yield S&P 500 borrow costs remain low so far. Image: Goldman Sachs Global Investment Research

U.S. Fixed Rate CMBS Index Price Commercial mortgage-backed securities prices are currently at their lowest since October 2009. Image: BofA Global Investment Strategy