Correlation – Euro Equities and Economic Surprise The correlation between euro equities and economic surprise has diverged recently. Image: Oxford Economics

Average Age of U.S. Private Fixed Assets Since the Great Financial Crisis, America’s equipment is getting older. Companies have been reluctant to invest and that’s not good news for the U.S. economy. Image: Deutsche Bank…

Global CO2 Emissions Worried about climate change? Global carbon dioxide emissions hit a record this year. Image: Financial Times

Multiple Expansion – Year-Over-Year Change in the S&P 500 Forward P/E Since the beginning of the year, the multiple expansion explains the S&P 500 return. Historically, S&P multiples contract or remain flat following years of…

G7 OECD Composite Lead Indicator and Global Manufacturing PMI This chart also suggests a pick-up in the global manufacturing PMI, after having been in contraction territory. Image: BofA Global Research

Stoxx Europe 600 and Europe Manufacturing PMI Is the Europe manufacturing PMI rebound in the cards? European stock markets remain bullish. Image: Goldman Sachs Global Investment Research

Output Gap and Stages of the U.S. Business Cycle Despite gloomy headlines, this chart suggests that the U.S. economic expansion is still intact. Image: BlackRock Investment Institute

Global Growth in 2020 Goldman Sachs expects a pick-up in global growth over the next year, led by the United States. Image: Goldman Sachs Global Investment Research

High Yield CCC-Rated Bonds Consumer-related and technology industries now represent more than one-third of CCC issues. Image: Arbor Research & Trading LLC

Negative Yielding Debt in the Bloomberg/Barclays Aggregate Index This chart puts negative yielding debt into perspective. Bondholders will get back less than what they paid if they hold bonds to maturity. Image: Bianco Research Click…