10-Year Annualized Real S&P 500 Total Return This chart puts into perspective the 10-year annualized real S&P 500 Total Return (adjusted for inflation). Image: Bianco Research

Effect of the Trade War on China Real GDP Growth The trade war drag on China real GDP growth is expected to peak in Q4 2019. Image: Goldman Sachs Global Investment Research

The Largest Industry Weighting of the Top Six Stocks in the S&P 500 The six FAANMG stocks account for 17.51% of the S&P 500. Are we seeing another tech bubble? Image: Bianco Research

Rotation vs. U.S. GDP Growth Forecasts Chart suggesting that the rotation out of bonds into equities, out of growth into cyclicals, out of large caps into small caps, and out of gold into copper, is…

U.S. Dollar and Euro – EUR/USD Forecast Investment banks expect the dollar to weaken against the euro in 2020. Image: Financial Times

Major Central Bank Balance Sheets and Emerging Market Equities Chart suggesting that the growth in G3 central bank balance sheets is positive for emerging market equities. Image: Oxford Economics

Number of Countries in Each Cycle Stage Chart suggesting that the global synchronised slowdown is over. According to the OECD leading indicators, the number of countries in recovery is rising. Image: TS Lombard

U.S. Stock Market Breadth The US stock market breadth is improving and continues to drive stocks higher. Image: Fidelity Investments

MSCI Europe Relative to S&P 500 The relative range between the MSCI Europe Index and the S&P 500 has been broken since the European financial crisis. Since 2011, European equities have underperformed the U.S. at…

S&P 500 Average Return in December Historically, the S&P 500 has done well in the second half of December. Image: LPL Research