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

SPDR S&P 500 Growth ETF vs. SPDR S&P 500 Value ETF Will value stocks outperform growth stocks in the recovery phase? Image: The Daily Shot

S&P 500 Index Total Return Drivers Historically, earnings growth drives equity returns over time. Image: Morgan Stanley Research

Bull Market Analogs Did the stock market rally go too far and too fast? In 2009, a similar rally corrected from June 11 to July 8. Image: Fidelity Investments