S&P 500 Cyclicals vs. Defensives

S&P 500 Cyclicals vs. Defensives Should investors expect temporary inflation spikes during the recovery and favor large tech stocks? Image: BofA Global Research

Major Central Bank Balance Sheets

Major Central Bank Balance Sheets JPMorgan expects asset price inflation, as the expansion of global central bank balance sheets could reach $5tn in 2021. Image: Financial Times

World Tech + E-commerce vs. World ex-Tech & E-commerce

World Tech + E-commerce vs. World ex-Tech & E-commerce The secular trend in the market has been deflation (credit & tech) dominating inflation, as $100 of EPS in 1995 is now $1,500 in the technology sector, but only $425 in everything else. Image: BofA Global Investment Strategy

Total Annual Health Care Spending Per U.S. Family

Total Annual Health Care Spending Per U.S. Family Headlines say there’s no inflation, but U.S. health care costs have skyrocketed. The annual health care cost for U.S. families is $23,000 vs. $10,000 in 2003. Image: Deutsche Bank Global Research

Demographics and U.S. 10-year Treasury Yield

Demographics and U.S. 10-year Treasury Yield The trend in global savings has turned. The chart suggests that the dis-saving phase is likely to be inflationary. Image: Gavekal, Macrobond

Decomposing the U.S. 10-Year minus 3-Month Treasury Yield Spread since 2013

Decomposing the U.S. 10-Year minus 3-Month Treasury Yield Spread since 2013 This great chart shows that the “Global Economic Data” variable has a significant impact on the U.S. 10-year minus 3-month Treasury yield spread since 2018. An R² of 0.902 means that more than 90 percent of the variance in the U.S. 10-year minus 3-month Treasury yield spread…

“Ken Fisher: Thinking in Ways That Others Do Not, with John Tamny”

“Ken Fisher: Thinking in Ways That Others Do Not, with John Tamny” Great interview of Ken Fisher on: coastal redwoods, dikes and climate change, efficient markets, quantitative easing (QE) vs. inflation, humans as a group are slow to learn, recessions, Fed and interest rates, why philanthropy is bad and immoral, and why inequality is a good…

91.2% Correlation Between Gold Price and U.S. National Debt

91.2% Correlation Between Gold Price and U.S. National Debt According to the National Inflation Association, there’s 91.2% correlation between gold price and U.S. national debt. The U.S. government’s public debt is now more than $22 trillion. Over the long term, the price of gold could continue to rise as debt increases. Image: U.S. Global Investors