Gold to Oil Ratio 1860-2020 The gold to oil ratio has reached the highest levels on record. Is oil a buying opportunity? Image: Goehring & Rozencwajg

Valuation – Nasdaq Internet Forward P/E vs. Total Fed Assets Chart suggesting the close relationship between the Nasdaq Internet forward P/E and total Fed assets. Image: Lohman Econometrics

Performance – S&P 500 Tech vs. S&P 500 Banks Total Return Relative Tech stocks have weathered the coronavirus panic. The outperformance of tech vs. banks is the biggest since the dotcom bubble and the Global…

Gold Price and Forecast 5-Year Real Rates Goldman Sachs expects U.S. real rates to continue to fall, and raised its 12-month forecast on gold to $2000/toz. Image: Goldman Sachs Global Investment Research

Coronavirus – Tightening and Easing Restrictions in the U.S. Tightening restrictions are rising, as daily coronavirus cases spike in the U.S. Image: Goldman Sachs Global Investment Research

2020 Stimulus as % of GDP – Emerging Markets vs. Developed Markets The 2020 stimulus is massive, especially in developed markets Image: BofA Global Investment Strategy

U.S. Money Supply M2 Growth U.S. money supply M2 growth is going parabolic compared to the global financial crisis. Image: Morgan Stanley Research

Global Real M1 vs. MSCI World Total Return (Leading Indicator) Global real M1 suggests that 2021 could be a good year for risky assets. Image: Nordea and Macrobond

U.S. Growth Stocks P/E Ratio: 1987-2009 vs. 2008-2020 Are growth stocks overvalued? This chart shows the P/E ratio on growth stocks during the dotcom bubble compared to the period 2008-2020. Image: Alpine Macro

U.S. GDP Growth Forecast Until 2021 Goldman Sachs expects slower U.S. growth in the third quarter, due to the recent increase in coronavirus cases in the United States. Image: Goldman Sachs Global Investment Research

Relative Performance of Bank Shares vs. Index and 5-Year Treasury Yield This chart suggests the relationship between interest rates and relative bank performance. Image: BofA Global Investment Strategy