Global Manufacturing PMI vs. MSCI ACWI PMI’s are peaking. Historically, markets tend to lead the macro for most time periods. Image: BofA Global Investment Strategy

S&P 500 Future Returns After 7 New Highs in a Row Historically, after seven consecutive new all-time highs, it tends to be bullish for the S&P 500 Index over the next 12 months. Image: LPL…

Annual Equity Fund Flows Are global equity fund inflows headed to the moon? Image: Goldman Sachs Global Investment Research

Commodities H1 Annualized Return How will commodities perform for the rest of the year? Image: BofA Global Investment Strategy

Equity/Bond Performance – Stock-to-Bond Ratio Should investors be worried that the stock-to-bond ratio is at an extreme level? Image: Morgan Stanley Wealth Management

Historical Odds of U.S. Stock Market Rising in Second Half of Calendar Year Is there a good chance that the U.S. stock market will be higher at the end of this year? Image: Marketwatch

U.S. 10-Year Breakeven Inflation vs. Commodities (Leading Indicator) Is a commodity price correction imminent? Image: Alpine Macro

Productivity Growth in the U.S. The coronavirus pandemic has boosted productivity in the United States and helps explain some of the strong gains in the stock market. Image: J.P. Morgan Asset Management

Negative Real Rates Around the World Most economies in the world experience negative real rates. Image: Gavekal, Macrobond

U.S. Transitory Inflation Meter Is U.S. inflation transitory? The BofA US transitory inflation meter remains at 100. BofA expects core PCE inflation will settle down to 2.1% by the end of 2022. Image: BofA Global…

Equity Flows in H1 Could too much liquidity create market instability? Image: BofA Global Investment Strategy