Recession – Proportion of U.S. Yield Curve Inverted When the number of inverted yield curves exceeds 50%, the risk of a recession in the United States increases significantly. Image: Goldman Sachs Global Investment Research

U.S. Dollar Spot Index Will the U.S. Dollar continue to weaken as inflation expectations fall, which could impact interest rates? Image: The Daily Shot

U.S. Dollar on a REER Basis Will the U.S. dollar continue to rise? On a real effective exchange rate basis, it appears to be overvalued. Image: Gavekal, Macrobond

China Imports Should investors be worried about the sharp decline in Chinese imports? Image: BofA Global Investment Strategy

Interest Rates – Global Rate Cuts vs. Global Rate Hikes Could global rate hikes have a significant negative impact on markets? Image: BofA Global Investment Strategy

Do You Think Inflation Is Transitory or Permanent? 49% of FMS investors see inflation as permanent rather than transitory. Image: BofA Global Fund Manager Survey

Commodities – Wheat Prices The COVID-19 pandemic and the Russia-Ukraine conflict push food prices to record high. Image: BofA Global Investment Strategy

Effect of Fiscal Spending on the Level of U.S. GDP Fiscal support in the United States is expected to decline significantly. Image: Goldman Sachs Global Investment Research

U.S. Fund Flows Flows into U.S. stock funds remain strong, while U.S. fixed income fund flows are still negative. Image: Topdown Charts

Monthly Equity Flows – U.S. vs. Non-U.S. U.S. equities have seen the highest monthly inflows on record relative to the rest of the world. Image: Goldman Sachs Global Investment Research

Equity Risk Premium (ERP) – S&P 500 Earnings Yield Minus 10-Year Treasury Yield The S&P 500 looks attractive relative to bonds. Image: Truist