Performance – S&P 500 and U.S. M2 Money Supply Minus Nominal GDP Growth (Leading Indicator) Should investors expect the S&P 500 to perform poorly over the next 12 months? Image: Alpine Macro
Velocity of M2 Money Stock in the U.S. vs. The U.S. Deficit The rise in the U.S. deficit has coincided with a collapse in M2 velocity. Image: Real Investment Advice
U.S. Money Market Fund Assets and Fed Funds Rate How much money is waiting to come back into the equity markets? Image: Goldman Sachs Global Investment Research
Velocity of M2 Money Stock in the U.S. Is there really an inflation threat? The surge in M2 money growth has coincided with a collapse in M2 velocity. Image: The Daily Shot
S&P 500 Index and Money Market Fund Assets as a Percent of Equity Market Capitalization Could the S&P 500 Index go higher from current levels? Image: Morgan Stanley Wealth Management
Global Money Velocity Growth Global money velocity growth is back to its pre-pandemic level, around zero. Image: Oxford Economics
M1 Money Supply Growth YoY The M1 money supply in the United States has grown faster than any time in history. Image: Gavekal, Macrobond
Valuation – Market Capitalization of Stock Market / M2 Money Supply Is the U.S. stock market in the danger zone? Image: Gavekal, Macrobond
Cash Levels – S&P 500 and Money Market Fund Assets Investors are still sitting on a high amount of cash, despite the rally in the S&P 500. Image: Alpine Macro
Fund Flows – Bond, Equity and Money Market Funds Since the start of the coronavirus pandemic, more money has gone into bonds than stocks. Image: Fidelity Investments