The S&P 500’s Lack of Diversification – S&P 5 vs. S&P 495 As this chart hightlights, the S&P 500 is less diversified than you think. Image: Lohman Econometrics

Top 10 Worst Quarters for Real U.S. GDP over the Last Century The second quarter of 2020 is one of the worst U.S. GDP contraction over the last century. Image: Deutsche Bank

% of S&P 500 Companies Beating Quarterly EPS Estimates vs. U.S. Manufacturing ISM So far, 84% of S&P 500 companies have exceeded estimates, thanks to coronavirus cuts to forecasts. Image: J.P. Morgan

U.S. Dollar/Euro (EUR/USD) and Equal-Weighted 10-Year G4 Yields Can the EUR/USD go higher? This chart suggests that 10-year G4 yields need to rise before the EUR/USD can push higher. Image: Nordea and Macrobond

10-Year Real Yields Across Regions This chart highlights the recent sharp decline of 10-year real yields in the U.S., the U.K. and Germany. Image: Goldman Sachs Global Investment Research

U.S. Dollar Index The U.S. dollar is on the verge of its worst month since 2010. Image: Financial Times

The U.S. Dollar’s Dominant Role as a Medium of Exchange The U.S. dollar is the world currency. But is its international role changing? Image: Deutsche Bank

China’s Fiscal Stimulus China’s fiscal stimulus is essential to revive the economy, but will it be enough? Image: Alpine Macro

Bull Markets – Gold and Tech Trees don’t grow to the sky, but so far, gold and tech are darlings of the market. Image: Gavekal, Macrobond

Seasonality – Median S&P 500 2-Month Returns since 1985 Since 1985, August and September have been the two worst months of the year for the S&P 500. Image: Goldman Sachs Global Investment Research

G10/USD Average August Performance Since 2010 Since 2010, G10 risk-on currencies tend to weaken in August. Image: Deutsche Bank