G4 Central Bank QE and Emerging Markets Equities This chart suggests that G4 central bank stimulus would support emerging markets equities in 2020 (R = 0.94 since 2016). Image: BofA Global Research

No One Loses Money in China? That’s pretty curious. Very few Chinese companies appear to have a negative return on equity (ROE) compared to NYSE listed firms. Image: Wind Information

DHL Global Trade Barometer The DHL Global Trade Barometer is a leading indicator for the future development of global trade, suggesting a protracted but mild decline of world trade. You may also like “Recession Indicators.”…

U.S. Corporate Profits vs. Assets U.S. corporate profits are near 20-year lows relative to fixed assets. The alternative to a recovery in corporate profits is the increasing risk of recession. Image: BofA Global Research

How Major Central Banks Will Change Interest Rates by the End of 2020 Chart suggesting that 2020 appears to be a quieter year for monetary policy. Image: Bloomberg

Wage Growth vs. Fed Funds Target Rate and S&P 500 High wage growth and accomodative monetary policy suggest a return to the sweet spot for the S&P 500. Image: Topdown Charts

S&P 500 and Average Bull Markets Chart showing the current S&P 500 rally compared to average bull markets since 1950. Image: The Leuthold Group

U.S. Job Growth and Business Cycles Chart showing that U.S. job growth has recovered more slowly than in previous cycles. Image: CNBC

S&P 500 Average Returns Since 1926 Historically, in the year following a double-digit gain, there have only been three years where the U.S. stock market has experienced a double-digit decline. Image: Ben Carlson

U.S. Job Growth vs. Population Growth and Recessions U.S. job growth continues to outpace population growth and does not point to an impending recession. Image: BLS