U.S. Real GDP Growth During Expansions The current business cycle is the longest, but it’s far from being the best. Image: Bloomberg

U.S. Unemployment Rate Forecast Goldman Sachs forecasts new lows in the U.S. unemployment rate in 2020. Image: Goldman Sachs Global Investment Research

Inequality – Share of National Net Worth Net worth inequality in the United States worsens. Images: Reuters

Annual Net Hedge Fund Openings Hedge funds are on track to record more closures than launches for the fifth consecutive year, due to mediocre returns and high fees. Image: Bloomberg

S&P 500 Average Monthly Returns Since 1950, the S&P 500 has been positive on average in January, but not over the past 10 & 20 years. Image: Ryan Detrick, LPL Financial LLC

Historical Returns of Stocks and Bonds by Decade The next decade could see anemic returns, due to low growth, low yields and low inflation expectations. Image: Morningstar

Effect of Financial Conditions on U.S. Real GDP Growth Chart suggesting an improvement of U.S. real GDP growth in 2020, as the impulse from financial conditions turns positive. Image: Goldman Sachs Global Investment Research

S&P 500 – The 1994-1998-2011 Mini-Bear Analog The “mid-cycle adjustment” analog works very well so far and suggests where the S&P 500 could go next. Image: Fidelity Investments

10Y-2Y Yield Curve and U.S. Recession The U.S. yield curve is steepening and suggests optimism for 2020, as investors become more confident in the U.S. economy. Image: Financial Times

Fed Balance Sheet vs. S&P 500 Chart suggesting that since October 2019, a 1% increase in the Fed balance sheet has been associated with a 0.9% increase in the S&P 500,  (R² = 0.52). Image: Deutsche Bank…

Business Loans at U.S. Banks Business loans at U.S. banks are tightly connected to the real economy and stalled in second half of this year. Image: Financial Times