U.S. Economy vs. Asset Prices Persistent low interest rates could explain the wide divergence between real economy prices and asset prices, over the past decade. Image: Charles Schwab

Dow Jones Return Based on Fed Chair Fed Chairman Jerome Powell took over the Fed two years ago. Since then, the Dow Jones has gained 15%. Image: Ryan Detrick, LPL Financial LLC

U.S. Non-Manufacturing PMI U.S. Non-Manufacturing PMI is higher than expected and continues to rebound. Image: Macrobond Financial

Global Growth, Equity Rally and Fed Balance Sheet This chart suggests that economic data is the driving force behind the equity rally, not the Fed’s balance sheet. Image: Arbor Research & Trading LLC

2020E Dividend Yield This chart puts 2020E dividend yields into perspective. Image: J.P. Morgan

Gold, Bitcoin and Negative Yielding Debt Chart suggesting that gold price and bitcoin have been boosted by rising negative-yielding debt. Image: Fidelity Investments

Confidence in Central Banks and Cryptocurrency This chart suggests substantial loss in confidence in some central banks. Image: Financial Times

ISM Manufacturing Index vs. ISM Non-Manufacturing Index The ISM Non-Manufacturing Index increased to 55.5% in January and suggests faster expansion in January than in December. Image: Oxford Economics

Expected Number of Years in Retirement in OECD Countries Currently, France has the highest expected time in retirement. Image: Deutsche Bank Global Research

Price Relative of MSCI World vs. Emerging Markets ex-China Emerging markets ex-China benefit from modernization potential, favorable demographics, and attractive valuations for the long term, according to BofA. Image: BofA Global Research

Purchasing Power of the Consumer Dollar in U.S. City Average As prices increase, the purchasing power of the consumer’s dollar declines. US$100 in 1913 would only be worth US$3.87 today.