VIX Index and S&P 500 Index VIX remains at high levels, despite the market rally. More volatility ahead? Image: Creduit Suisse

Cumulative GDP Decline During Recessions in the U.S. The cumulative decline in U.S. GDP is -10.2%. This is one of the deepest recession on record. Image: Oxford Economics

Global EPS Growth and South Korean Exports Chart suggesting that growth in South Korean exports can help forecast global EPS growth over the next 12 months. Image: BofA Global Investment Strategy

Euro to U.S. Dollar (EUR/USD) Net speculative positions could suggest that the euro has more downside. Image: BCA Research

S&P 500 Returns and Real Rates Correlation The correlation between S&P 500 returns and real rates has turned negative. Image: Goldman Sachs Global Investment Research

Japanese Equities At All-Time High Japan’s Nikkei 500 hits record high. Image: BofA Global Investment Strategy

Estimated S&P 500 Valuation Depending on Election Outcome According to Goldman Sachs, a Democratic sweep could lift the S&P 500 Index to 3400 in the near-term, and to 3800 in mid-2021. Image: Goldman Sachs Global…

Seasonality – Median S&P 500 4Q Return Since 1985 When the S&P500 has returned between 0% to 5% for the first nine months, the median 4Q return has been 9%. Image: Goldman Sachs Global Investment…

U.S. Unemployment Rate Continues Recovery U.S. unemployment rate drops to 7.9%, but job growth slowed in September. Image: BofA

U.S. Inflation and Biden Policies Fiscal stimulus is expected to produce somewhat higher inflation. Image: Goldman Sachs Global Investment Research

S&P 500 2020 Earnings Growth Estimates The estimated decline in earnings for the S&P 500 could mark the second largest year-over-year decline in earnings since 2009. Image: J.P. Morgan