Valuation Expansion: Year-Over-Year Change in S&P 500 Forward P/E This chart suggests that investors shouldn’t expect valuation expansion this year. Image: BofA US Equity & Quant Strategy
Emerging Markets Monetary Policy vs. Economic Cycle (Leading Indicator) Chart suggesting that EM monetary policy easing is likely to increase economic activity in the coming months. Image: Topdown Charts
Consumer, Housing & Retail, Imports-Exports and Industrial Chart suggesting that consumer strength should pull the industrial economy upwards. Image: Arbor Research & Trading LLC
Asset Growth in Global ETF Fixed-Income The incredible rise of fixed-income exchange-traded funds puts pressure on banks. Image: Financial Times
12-Month Earnings Yield Less Fed Funds Rate The 12-month earnings yield less Fed funds rate is just back to its historical average. Image: KKR Global Macro
Global Equities Flows and ISM Chart showing the correlation between global equities flows and ISM. Image: Goldman Sachs Global Investment Research
S&P 500 EPS Growth vs. Price Performance Chart showing the poor relationship between earnings growth and market performance, even in the long term. Image: BMO Capital Markets Investment Strategy Group
S&P Technology Sector and 200-Day Moving Average The chart suggests that the tech sector appears stretched, at nearly 20% above its 200-day moving average. Image: Strategas
A Weaker U.S. Dollar in 2020? This chart suggests that the U.S. dollar could decline this year, as long as the Fed keeps pumping money into the banking system. Image: Fidelity Investments
Growth Across 45 OECD Tracked Countries Chart suggesting stable growth this year and accelerating growth next year. Image: Charles Schwab
Equity Fund Flows Cycle, Credit and Government Bond Chart suggesting that the equity fund flows cycle has entered its last phase. Image: Goldman Sachs Global Investment Research