Inflation in this Cycle (DM GDP Deflator) Morgan Stanley expects the return of inflation after the Great COVID-19 Recession (GCR). Image: Morgan Stanley Research

S&P 500 Non-Commercial Net Long Futures Speculative futures in S&P 500 are net short. Image: Deutsche Bank

U.S. Housing Market This chart suggests that the U.S. housing market has already started to recover. Image: BofA Global Investment Strategy

Bitcoin Market Price and Intrinsic Value This chart suggests Bitcoin’s intrinsic value using the cost of production approach following Hayes. Image: J.P. Morgan

Global GDP Growth Forecasts BofA has revised lower 2020 GDP growth for 28 of 43 countries. Image: BofA Global Research

Weight of Top 10 Positions in Median Hedge Fund Long Portfolio The average hedge fund holds 71% of its long portfolio in its top 10 positions. This is one percentage point below the record high…

Cumulative Flow into Global Equities and Bonds So far, there is no sign of a great rotation into stocks from bonds. Image: BofA Research Investment Committee

Valuation – P/E Premium of MSCI Growth vs. Value Indices The valuation premium of growth stocks vs. value stocks is close to an all-time high. Image: Goldman Sachs Global Investment Research

G10 Central Bank Balance Sheets The total size of G10 central bank balance sheets has now surpassed $20 trillion. Image: Deutsche Bank

China Recovery China recovery is well underway, suggesting a quick economic recovery. Image: Morgan Stanley Research

Cumulative Weekly Money Market Flows by Domicile Record money market flows in the United States, as the coronavirus pandemic leads to a flight to quality. Image: BofA Global Research