U.S. Buybacks and Buyback Yield Buybacks are expected to slow to $625bn in 2020, while providing robust yields. Image: Wells Fargo Investment Institute

State and Private Enterprise Default Rate in China The default rate for private Chinese companies has reached a record high at 4.9% vs. 0.6% in 2014. Image: Financial Times

Flows into ETFs and Mutual Funds (Passive vs. Active) Mutual funds exhibit persistent outflows explained by aging and fees, while inflows into ETFs continue to rise. Image: Arbor Research & Trading LLC

Performance: MSCI World Banks Index Relative to MSCI World Index Chart showing the terrible performance of banks all around the world since the Great Financial Crisis. Image: Gavekal, Macrobond

Chicago Fed National Financial Conditions Index and S&P 500 Financial conditions remain easy, which is historically bullish for U.S. equities. Image: BofA Global Research

Cumulative Flows into Small and Mid Cap Equity ETFs Chart showing robust inflows into small and mid-cap ETFs this year. Image: BofA Securities

Debt – U.S. Shale’s Maturity Wall and Interest Should investors be concerned about the shale’s wall of maturity? There is no doubt about it. Image: Quill Intelligence, LLC

China GDP Growth Over Time This chart puts China’s economic growth into perspective. Image: howmuch.net

Stocks, Bonds, Foreign Exchange and Commodities Outperformance Stocks, bonds, FX and commodities outperformed in 2019. Image: Deutsche Bank Global Research

Historical Correlations of Asset Price Returns to Central Bank Net Cuts in Policy Rates The correlation between assets price returns and central bank rate cuts has been higher after the Great Financial Crisis. Image: BofA…

S&P 500 Forward Performance +6 Months Following New All-Time High Since 1950 Historically, there are major falls 5% of time, further gains 82% of time and major gains 21% of time. Image: Strategas