S&P 500 and Global M2 Liquidity

S&P 500 and Global M2 Liquidity This chart suggests that global M2 liquidity growth tends to push U.S. equities higher. Image: Nordea and Macrobond

Gold as Monetary Inflation Hedge

Gold as Monetary Inflation Hedge Is gold an inflation hedge? The market share of gold against M2 money supply tends to increase in periods of inflation. Image: Fidelity Investments

U.S. Excess Liquidity Growth Leads S&P 500 Returns

U.S. Excess Liquidity Growth Leads S&P 500 Returns This chart suggests that M2 money supply to nominal GDP ratio leads S&P 500 returns by one year. Is the S&P 500 vulnerable to a drop, followed by a recovery? Image: Oxford Economics, Macrobond

China – Equity Returns and Money Supply

China – Equity Returns and Money Supply This chart shows the relationship between M2 money supply and China’s stock market since 2003. Image: Jeroen Blokland