China Credit Impulse and U.S. Generic Government 10-Year Yield (Leading Indicator) China’s credit impulse tends to lead the U.S. 10-year bond yield by 12 months. Is it time to buy long-dated bonds? Image: Nordea and Macrobond
Euro to U.S. Dollar (EUR/USD) and China Credit Impulse – Leading Indicator China credit impulse tends to lead EUR/USD by 14 months. Image: Nordea and Macrobond
G3 Credit Impulse and Commodities (Leading Indicator) G3 credit impulse tends to lead commodity prices by 12 months. Image: Nordea and Macrobond
China Credit Impulse Leads Global Manufacturing PMI China credit impulse tends to lead global manufacturing PMI by 12 months. Credit impulse is the change in new credit issued as a percentage of GDP. Image: Nordea and Macrobond
China Credit Impulse and U.S. 10-Year Treasury Yield (Leading Indicator) China’s credit impulse tends to lead the U.S. 10-year Treasury yield by one year. Lower Treasury yields ahead? Image: Alpine Macro
China Credit Impulse and Corporate Financing Index China credit impulse is weakening as Beijing orders banks to limit loan growth for rest of the year. Image: Alpine Macro
Commodities vs. China Credit Impulse (Leading Indicator) China’s credit impulse tends to lead commodities by 12 months. Image: Nordea and Macrobond
Euro to U.S. Dollar (EUR/USD) and China’s Credit Impulse (Leading Indicator) China’s credit impulse tends to lead the EUR/USD by 12 months. Image: Nordea and Macrobond
China Credit Impulse and Germany PMI (Leading Indicator) China credit impulse tends to lead Germany PMI by 6 months. Image: Scotiabank GBM Portfolio Strategy
U.S. Credit Impulse as % of GDP vs. U.S. Private Domestic Demand Growth Credit growth in the U.S. has historically been a good indicator of underlying GDP growth. Image: Deutsche Bank