Atlanta Fed GDPNow vs. U.S. GDP Growth The art of forecasting U.S. GDP: Atlanta Fed GDPNow vs. U.S. GDP growth. Image: Bloomberg

S&P 500 Returns After 20%-plus Gains at the End of October Historically, the return for the last two months has averaged 6.2%. Image: LPL Research

Federal Reserve Broad Dollar Indexes The dollar’s current level in real terms is elevated, but lower than previous peaks. Image: Peterson Institute for International Economics

Global Debt Levels – Advanced Economies and Emerging Markets Historically, high debts create serious risks. Global debt levels have increased significantly since the Global Financial Crisis. Image: BofA Merrill Lynch Global Research

S&P 500 vs. U.S. CEO Confidence Survey Economic Expectations The S&P 500 is in “Fear of Missing Out” mode, while CEO confidence has fallen to its lowest level in a decade. Image: Nordea and Macrobond

Global GDP Growth Outlook vs. Consensus SocGen remains below the consensus forecasts and expects a mild recession around mid-2020 in the U.S. and a projected U.S. GDP of 0.7%. Image: Societe Generale Cross Asset Research

Range of Returns Two Years After Fed Rate Cut Historically, equities rally significally, when the Fed eases during soft patches. Image: Barclays Research

Median S&P 500 12-Month Returns Based on Control of U.S. Government A unified government under the Democrats could represent a major risk for the S&P 500 in 2020. Image: Goldman Sachs Global Investment Research

Russell 2000 Returns After New 52-Week Highs After more than a year without a new 52-week high, the Russell 2000 has been higher 12 months later 10 of 11 times and up 17% on average.…

Total U.S. Equity Fund Flows and Market Capitalization Currently, equity fund outflows over 12m (rolling) are at 1% of market capitalization, as in March 2003, March 2009 and June 2012. Image: UBS

Effect of Fiscal Policy on U.S. Real GDP Growth This chart suggests a negative effect of fiscal policy on real GDP growth in 2020. Image: Goldman Sachs Global Investment Research