Global Manufacturing PMI vs. S&P 500 Financials Index/S&P 500 Index Financials are generally highly correlated with the rebound in economic indices, but they are lagging. Image: Morgan Stanley Wealth Management
Bank Business Lending Standards U.S. banks are tightening lending standards amid uncertain economic outlook. Image: Goldman Sachs Global Investment Research
U.S. JOLTS Survey vs. 10-Year U.S. Treasury Yield As macroeconomic data continue to improve, how long can yields resist the recovery? Image: Morgan Stanley Wealth Management
Performance – Industrials vs. S&P 500 and Global Current Activity Indicator (CAI) Goldman Sachs upgraded industrials to outperform, as global economic growth is improving. Image: Goldman Sachs Global Investment Research
U.S. Federal Debt A potential warning sign for the U.S. economy, as economic growth in Japan and Italy came to a halt after their debt-to-GDP ratios exceeded 100%. Image: Piper Sandler
U.S. Dollar and Relative Equity Performance Chart suggesting the pretty close relationship between U.S. dollar cycles and relative equity performance over the last 50 years. Image: Oxford Economics, Macrobond
U.S. Nonfarm Employment This chart suggests a two-phase labor market recovery in the United States. Image: Oxford Economics
U.S. Real Yield Curve and 2-Year/30-Year U.S. Real Yield Curve Economic stress remains as the U.S. real yield curve remains in negative territory. Image: Morgan Stanley Research
% of Economies with Improving Manufacturing PMI vs. Previous Month Recent global manufacturing PMI data suggest the economic comeback is underway. Image: Morgan Stanley Research
High Yield Volatility High yield volatility is likely to remain elevated from economic weakness. Image: Morgan Stanley Research
Fed’s Credit Lending Facilities Only a fraction of Fed’s emergency lending facilities has been deployed so far. Image: Oxford Economics