Core Inflation and Average Trailing S&P 500 P/E Ratio In periods of low inflation, the P/E ratio is higher. Conversely, high inflation tends to depress the P/E ratio. Image: Goldman Sachs Global Investment Research
Leading Indicators Are Improving Globally Leading economic indicators have been improving throughout 2019. This may suggest that global growth is back on track. Image: Richardson Wealth
Business and Industrial Sentiment vs. U.S. GDP Chart suggesting that business and industrial surveys have not explained U.S. economic growth over the past decade (R² = 0). Image: Arbor Research & Trading LLC
U.S. Business Cycle – Months of Growth vs. Months of Recession This chart puts into perspective the U.S. business cycle and the length of recessions. Image: BofA Global Research
Number of Trading Days in a Bear Market (MSCI World Index) Stimulus and extremely low interest rates have moved global equities higher over past decade. Image: Financial Times
S&P 500 Return: Earnings Growth vs. Multiple Expansion Multiple expansion explains the S&P 500’s impressive total return of 31.49% in 2019, despite muted earnings. Image: Strategas
S&P 500 Total Return Trend Chart suggesting that the S&P 500 Total Return index is 6% below trend. Image: Truist
U.S. Inflation since 2000 U.S. households are more concerned about the rising cost of medical care and housing, than overall inflation. Image: Financial Times
U.S. Job Seeking and Recruitment Lots of job hunting. This interesting chart shows Google searches by job-seekers vs. recruiters. Image: Arbor Research & Trading LLC
MSCI Emerging Markets Relative to the U.S. and U.S. Dollar Historically, a weak U.S. dollar tends to be good for emerging markets relative to the U.S.. Image: Datastream, J.P. Morgan
Emerging Market Price-to-Book and Subsequent 5-Year Returns This chart shows the correlation between EM price-to-book and subsequent 5-year returns, suggesting higher returns for emerging markets. Image: J.P. Morgan