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

Nasdaq Composite Members Above 50 Day SMA vs. Nasdaq Composite Index Chart suggesting that Nasdaq internals are losing momentum. Image: Lohman Econometrics

U.S. Dollar and Relative Equity Performance Chart suggesting the pretty close relationship between U.S. dollar cycles and relative equity performance over the last 50 years. Image: Oxford Economics, Macrobond

U.S. Dollar and “Death Cross” The “death cross” strikes the U.S. dollar. Image: The Daily Shot

Value vs. Growth – Rolling 10-Year Total Return Will value stocks outperform growth stocks in the recovery phase? Image: Financial Times

Regional Share of Global GDP – North America, Europe and Japan vs. Asia ex-Japan Shifting patterns of global growth? This chart suggests that the center of gravity of global growth is shifting toward Asia. Image:…

Sector Implied Volatility Spread vs. S&P 500 More volatility to come for health care? Image: Goldman Sachs Global Investment Research

Blended Money Supply vs. U.S. Nominal GDP Historically, U.S. nominal GDP growth tends to track money supply growth. More inflation to come? Image: Deutsche Bank

Wave of Zombie Companies in Europe Zombie companies in Europe are back on the rise, thanks to an unprecedentedly easy monetary policy. Image: BofA Global Research

Valuation – Defensive Assets vs. Assets More Sensitive to the Economy Valuations suggest that we’re a long way from a return to normal times, as the market remains concerned about long-term growth. Image: Morgan Stanley…

Valuation – U.S. Stocks vs. Eurozone Stocks Will eurozone stocks outperform U.S. stocks in coronavirus recovery? Image: Gavekal, Macrobond