Major U.S. Mutual Funds’ Net Exposure to U.S. Equities U.S. equity exposure of major U.S. mutual funds is in line with the historical average. Image: Nomura

U.S. Economy – Exports and Imports Annual Growth In May, US exports sank to 11-year low, and imports dropped as demand for goods slows. Image: Oxford Economics

Earnings – EPS to Recover Post Recessions How long does it take for S&P 500 EPS to recover after a recession? Image: CIBC

U.S. Dollar Smile (U.S. Growth vs the Rest of G7) and U.S. Double Deficit Global growth rebound and widening U.S. double deficit suggest a further depreciation of the U.S. dollar. Image: Nomura

Market-Implied Global Growth Markets are already pricing in global growth close to its long-term average. Image: UBS

Earnings – S&P 500 2020 and 2021 EPS Estimate Trends Have earnings estimates bottomed out? Image: Truist

U.S. Job Losses – Payroll Trends by Wage Cohort Lower-wage workers in the United States have been hit harder by coronavirus job losses. Image: Morgan Stanley Research

U.S. GDP – Economic Recovery Phase When will the U.S. economy recover? Image: Oxford Economics

60/40 Portfolio Returns Over the Next 10 Years Chart suggesting anemic returns for 60/40 portfolios over the next 10 years. Image: Goldman Sachs Global Investment Research

Central Bank Ownership of Domestic Government Debt This chart shows the rise of central banks as holders of sovereign debt, pushing sovereign yields to historically low levels. Image: Deutsche Bank Global Research

G4 Central Bank Balance Sheet The combined G4 central bank balance sheet (Fed, ECB, BoJ, BoE) should continue to expand further. Image: J.P. Morgan