U.S. High-Yield vs. Investment-Grade and MSCI ACWI ex-US (Leading Indicator) This chart suggests that the ratio of high-yield to investment-grade bond performance is a leading indicator for stocks. Image: BofA Global Investment Strategy
Chinese Exports to EU and U.S. The impact on Chinese exports to the U.S. could be much worse than 2008. Image: Gavekal, Macrobond
Percentile of Sentiment Indicators since 2009 Most market sentiment indicators are reaching low levels. Image: Goldman Sachs Global Investment Research
Bear Market “Head Fake” Rallies Since 1937, eleven bear markets experienced a “head fake” rally, when the real economic pain began in the United States. Image: CNBC
S&P 500 and Insider Buy vs. Sell Ratio Insider buying is at its highest level in nine years, as executives are confident their businesses will recover. Image: CNBC
Selected Companies by Number of Jobs They are Planning to Add Due to the Coronavirus Pandemic Some companies are hiring during the coronavirus pandemic. Image: Statista
S&P 500 – Speed of Recovery vs. Speed of Decline This chart shows 10 declines more than 30% since 1920, and the speed of recovery vs. the speed of decline. The current decline has been 35% in just 6 weeks. Image: Fundstrat Global Advisors, LLC
S&P 500 Index vs. Earnings per Share (EPS) Currently, the S&P 500 Index prices in a 15% decline in EPS. A decline of 33% from 2019 seems more appropriate, according to Goldman Sachs. Image: Jeroen Blokland
U.S. Trade Is Sharply Slowing (Imports – Exports) This chart shows the U.S. trade collapse, as the coronavirus plunges the global economy into recession. Image: Bloomberg
U.S. Equity Market Total Return Volatility and VIX Currently, the monthly volatility of U.S. equities is the highest on record. Image: BofA Global Investment Strategy
How Long Do Americans See Coronavirus Disruption Lasting? 51% of Americans see coronavirus disruption lasting a few more months. Image: Statista