U.S. Treasury Issuance and Fed QE What’s the impact of quantitative easing? The Fed is now expected to buy double the amount of U.S. Treasury net issuance. Image: Deutsche Bank Global Research

S&P 500 Total Return Index and Actual Forward 10-Year Rate of Return This chart suggests that the long-term return forecast is around 3.5% now vs. 8% p.a. at March bottom (R² = 0.91). Image: Hondo…

Impact on U.S. Small Business Revenue Since Coronavirus Became a Widespread Concern in Early March Around 59% of U.S. small businesses saw revenue drop by 75% or more due to the coronavirus pandemic. Image: CNBC

U.S. Unemployment Insurance Initial Claims Goldman Sachs expects initial claims to remain very high over the next several weeks. Image: Goldman Sachs Global Investment Research

S&P 500 Relative to 10-Year Treasury Yield S&P 500 relative to 10-year Treasury yield at lowest level since 1983. Image: Bloomberg

Recession History – Average Trajectory of Earnings Data The market tends to bottom well in advance (15 months on average) before earnings recover. Image: Goldman Sachs Global Investment Research

GDP Growth Forecast for Selected Economies The International Monetary Fund is predicting a V-shaped recovery for the global economy. Image: Statista

Coronavirus (COVID-19) – Situation Report This chart shows that the number of new coronavirus cases, below the 5-day average (green observations), is improving worldwide. Image: Macrobond Financial

Gold to Oil Ratio at All Time Highs This chart suggests that the gold to oil ratio is not expected to remain at these levels for long. Image: The Daily Shot

U.S. Unemployment Rates Forecast Goldman Sachs expects U3 unemployment rate to peak at 15%. Image: Goldman Sachs Global Investment Research

FMS Cash Balance vs. S&P 500 The BofA Fund Manager Survey cash balance jumps to 5.9%, highest since right after 9/11. This is an interesting contrarian indicator. Image: BofA Global FMS