U.S. Equity Bear Markets and Recessions In recent history, equity bear markets tend to occur six months before a recession, and when no one is looking for them. Image: BCA Research

Total Negative Yielding Bonds Outstanding Global negative-yielding debt has now fallen below the 2016 peak. Image: Bianco Research

Net Global Central Bank Hikes/Cuts Global central banks haven’t cut this much since the Great Financial Crisis. Image: BofA Merrill Lynch Global Investment Strategy

U.S. Demographics – Portfolio Allocation to Equities Chart suggesting that the average U.S. investor will move from holding 59% in equities to 56% by 2031, due to aging. Image: Arbor Research & Trading LLC

U.S. Earnings Growth in 2020 Chart suggesting that U.S. corporate earnings growth should expand into 2020. Image: LPL Research

U.S. Nonfarm Payroll Growth and Unemployment Rate Goldman Sachs expects new lows in the U.S. unemployment rate in 2020. Image: Goldman Sachs Global Investment Research

Job Creation by Size of Company in the U.S. Large companies are becoming less important, when it comes to job creation in the United States. Image: Bianco Research

Households and Corporations Debt to GDP and Total Fed Holdings Since the Great Financial Crisis, the private sector has de-leveraged, while the Fed’s balance sheet has risen sharply. Image: Goldman Sachs Global Investment Research

Outperformance of the Biggest 10% Companies vs. Rest of the Market Chart showing that the biggest 10% of companies have significantly outperformed the rest of the market. Image: Societe Generale Cross Asset Research

Monetary Policy and Fed Funds Rate According to market rates, monetary policy is more neutral than accommodative. Image: Danske Research