DM Manufacturing PMI vs. Global Central Bank Decision Index This year’s key macro theme is a global growth rebound, fueled by two years of aggressive monetary easing that have set the stage for a fresh wave of economic momentum. Image: TS Lombard
U.S. Manufacturing PMI and Global Leading Indicator Leading indicators are turning higher, signaling a growing chance of a global cyclical upswing into the first half of 2026. Image: Bloomberg
Global Composite PMI and EPS Growth The Global Composite PMI serves as a leading indicator for EPS growth, with its trends providing insights into future corporate earnings performance. Image: J.P. Morgan
ISM Manufacturing PMI and Global Stocks vs. Government Bonds In a potential shift from a “no” to a “hard” landing scenario, government bonds may outperform due to increased risk aversion, interest rate cuts, lower inflation expectations, and their historical performance during economic downturns. Image: BofA Global Investment Strategy
Discretionary Investor Equity Positioning vs. S&P Global Composite PMI Discretionary investor equity positioning is not reacting to changes in the global composite PMI. Image: Deutsche Bank Asset Allocation
Global Manufacturing PMI and Global Consumer Discretionary vs. Staples The global consumer discretionary vs. staples relative performance suggests that the global manufacturing PMI could be trending towards expansion, which is good news. Image: Topdown Charts
U.S. Dollar Index (DXY) vs. Manufacturing PMI (U.S. Minus Global Ex-U.S.) Will the U.S. dollar continue to weaken? Image: BCA Research
Commodities – Global Manufacturing Output PMI vs. Bloomberg Commodity Index Will commodity prices decline in 2023 amid slowing global demand? Image: TS Lombard
Percent of Central Banks Tightening vs. Global Manufacturing PMI Global policy tightening is putting downward pressure on global growth. Image: BofA Global Research
Earnings – Global Manufacturing PMI New Orders vs. World Trailing 12-Month EPS (Leading Indicator) Global manufacturing PMI new orders tend to lead world EPS growth by 12 months. Image: BofA Global Research
U.S. 10-Year Treasury Yield and Global Manufacturing PMI (Leading Indicator) Should investors prepare for a substantial decline in the global economy? Image: TS Lombard