Inequality – Share of Population in Middle-Income Households and Annual Median Income The middle class is shrinking rapidly in the United States. It’s at the same level as China, Turkey and Russia. Image: Deutsche Bank Global Research
Discretionary Retail Establishments in the United States Chart suggesting that the rise of ecommerce is having a real impact on retail stores. Image: Financial Times
U.S. Business Cycle – Global Equity vs. Bonds and U.S. Unemployment Rate Chart suggesting that U.S. growth has peaked. Image: Pictet Asset Management
China – How the coronavirus compares with the SARS virus in 2002-2003? This comparison reveals both positive and negative factors. Image: Danske Research
Flows into U.S. Sustainable Funds Chart showing that more money flows into U.S. sustainable investment funds. Image: Financial Times
Correlation Between VIX and MOVE The rolling one-year correlation between VIX and MOVE is at the highest level on record. Image: Arbor Research & Trading LLC
The SARS Analog – Virus Outbreaks and Global Markets The chart shows the SARS analog (2002 vs. 2020), highlighting the S&P 500 Index, the MSCI China Index, emerging markets vs. U.S. EPS and the CRB Raw Industrials Index. Image: Fidelity Investments
Consolidated Equity Positioning Equities positioning are at their highest level in two years, as optimistic investors price in a global growth rebound. Image: Deutsche Bank Asset Allocation
China’s Response to the Spread of the Coronavirus This chart puts the spread of the coronavirus into perspective. Image: Gavekal, Macrobond
Global Industrial Cycle and Copper vs. Equities Chart suggesting that copper should outperform equities in a global industrial rebound. Image: Oxford Economics
EUR/USD and Euro Area M3 Chart showing the correlation between the euro-area broad money supply (M3) and EUR/USD (inverted). Image: Morgan Stanley Research