IG + HY + EM Debt Flows Flows into IG/HY/EM debt have turned positive. Image: BofA Global Research

U.S. Market Cycle Indicators Will the % of market cycle indicators be less than 30% in the next 12 months? Image: Richardson Wealth

Brent Crude Oil Will oil prices continue to fall on weaker economic outlook? Image: The Daily Shot

Housing Market – U.S. Pending Home Sales Recession is coming in the United States. U.S. pending home sales, down 30% from a year ago, are a good leading indicator of the housing market. Image: BofA…

FMS Investors – Net % Overweight Energy FMS investors continue to overweight energy. Image: BofA Global Fund Manager Survey

Inflation vs. Short Term Rate Expectations Will recessionary conditions and cooler inflation force the Fed to cut rates in 2023? Image: BofA Global Fund Manager Survey

Equity Risk Premium – Change in ERP vs. 24-Month Lows Will the equity risk premium rise in 2023 as a U.S. recession is likely? Image: BofA US Equity & Quant Strategy

Market Capitalization as % of S&P 500 Should investors underweight the tech, communications services and consumer discretionary sectors? Image: BofA Research Investment Committee

S&P 500 vs. Bitcoin Will Bitcoin continue to underperform the S&P 500? Image: Topdown Charts

Housing Market – U.S. Housing Starts U.S. housing starts drop in October amid rising mortgage rates. Image: The Daily Shot

Recession – U.S. Real GDP and Financial Conditions Index (Leading Indicator) Financial conditions tend to lead U.S. real GDP by 3 months. Image: Alpine Macro