Valuation – U.S. Stock Market Capitalization-to-GDP The U.S. stock market capitalization-to-GDP is a general gauge of market valuation, but it’s not very useful for short-term market timing. Image: Bloomberg

S&P 500 Weekly Losing Streaks Currently, the S&P 500 is down 4 straight weeks. But the chart below shows that long weekly losing streaks are rare. Image: Ryan Detrick, LPL Financial LLC

Negative Yielding European Corporate Bonds Now, €1.1 trillion of European corporate bonds yield are below zero: exactly half of the European high-grade credit market. Image: BofA Merrill Lynch

Central Bank Balance Sheet to GDP Ratios Central bank balance sheet to GDP ratios, influenced by monetary policy, vary from one economy to another. Image: Bianco Research

Gold Sentiment at Annual High The gold price ‘risk radar’ index is flashing red (-2.1 standard deviations). Image: Sentix, Bloomberg Finance L.P.

Percentage of Inverted Yield Curves Across the Globe Now, nearly 25% of global 2s10s yield curves and nearly 10% of global 2s30s yield curves are inverted. Image: BofA Merrill Lynch

Strong Dollar and Imports The chart shows that a stronger dollar depresses goods prices via imports. Image: Deutsche Bank Global Research

One of the Best Recession Indicator The Fed is cutting rates and the 10-year rate is inverted to Fed funds. Image: Real Investment Advice

Copper vs. China and Gold vs. U.S. Real Yields Copper price is underperfoming gold, because China 10-year yields and U.S. real yields are falling. Image: Topdown Charts

Percentage of the World with Negative 10-Year Rates Now, around 20% of the world is living with negative 10-year rates. Image: BofA Merrill Lynch

Trade War and Financial Conditions Index The trade war has tightened the Goldman Sachs FCI by about 60bp cumulatively. The Goldman Sachs Financial Conditions Index (FCI) is a weighted sum of a long-term corporate yield,…