U.S. vs. China – Population 20-59 Years Old Shrinking working-age populations in the U.S. and China could alter growth prospects. Image: Gavekal, Macrobond

Emerging Markets vs. Developed Markets Growth Differential The growth cycle usually drives emerging markets. Image: Goldman Sachs Global Investment Research

VIX Non-Commercial Net Positioning Net shorts on the VIX remain elevated. Are speculators too complacent? Image: Real Investment Advice

Net U.S. Mutual Fund and ETF Flows by Year Are flows into U.S. equity mutual funds and ETFs on the way to the moon this year? Image: Goldman Sachs Global Investment Research

The Misery Index – Unemployment plus CPI Inflation The Misery Index is nowhere near its 1970s level. Are stagflation fears overblown? Image: J.P. Morgan Asset Management

S&P 500 Upward Earnings Revisions as a Percent of Total Will upward earnings revisions become even more volatile? Image: Morgan Stanley Wealth Management

Inflation – Global CPI Consensus Forecast Will global CPI continue to rise in 2022? Image: BofA Global Investment Strategy

Global EPS Consensus Forecast Global EPS growth estimates for 2022 are falling. Will global stocks follow? Image: BofA Global Investment Strategy

Liquidity Indicator and U.S. Recessions Liquidity remains an interesting indicator of the state of the U.S. business cycle. Image: Longview Economics

U.S. Dollar Non-Commercial Net Positioning Currently, traders are bullish on the U.S. dollar. Image: Real Investment Advice

Fed Funds vs. NFIB Small Business Jobs Hard to Fill Historically, higher wage inflation is associated with higher Fed funds. Image: BofA Global Investment Strategy