% of Economies with Improving Manufacturing PMI vs. Previous Month Based on a 3-month moving average, 82% of economies now see an improvement in their manufacturing sector compared to the previous month. Image: Morgan Stanley…
U.S. Dollar Index and Foreign Ownership Share in the U.S. Corporate Bond Market Chart suggesting that the relationship is virtually non-existent between the U.S. dollar and net foreign purchases of U.S. corporate bonds. Image: Goldman…
S&P 500 Index Returns Final 5 Months of Year When the S&P 500 is up in April, May, June, and July, as it is this year, it tends to be bullish. Image: LPL Research
Gold and Hedge Funds Net Long Positions Gold continues to shine, but for how long? Image: Morgan Stanley Wealth Management
Seasonality of Monthly Spikes in the VIX Historically, there are higher than average VIX spikes in August, September and October. Image: BofA Global Research
Bull Markets of 2020 Is the gold rally sustainable? Precious metal miners have outperformed all other asset classes since the beginning of the year. Image: Gavekal, Macrobond
S&P 500 Total Return Attribution Multiple expansion explains the S&P 500’s total return YTD, despite negative earnings growth. Image: The Daily Shot
Emerging Markets Debt Yield The cost of servicing emerging markets debt denominated in U.S. dollars has fallen to almost 4%, thanks to global central bank liquidity and the weakening of the U.S. dollar. Image: Morgan…
Global Manufacturing PMI in July Global Manufacturing PMIs are back above 50 in July, suggesting a V-shaped recovery in global economy. Image: Morgan Stanley Research
S&P 500 Average Performance – Presidential Election Years & Incumbent Party Outcome 1936-2016 The S&P 500 has been a great indicator in the three months prior to the U.S. presidential election. Historically, the S&P 500’s…
S&P 500 Growth vs. U.S. Real GDP Growth vs. S&P 500 Sales Growth Do valuations still matter? This chart puts into perspective the wide divergence between the S&P 500 and the U.S. economy. Image: Real…