World Tech + E-commerce vs. World ex-Tech & E-commerce

World Tech + E-commerce vs. World ex-Tech & E-commerce The secular trend in the market has been deflation (credit & tech) dominating inflation, as $100 of EPS in 1995 is now $1,500 in the technology sector, but only $425 in everything else. Image: BofA Global Investment Strategy

Blended Money Supply vs. U.S. Nominal GDP

Blended Money Supply vs. U.S. Nominal GDP Historically, U.S. nominal GDP growth tends to track money supply growth. More inflation to come? Image: Deutsche Bank

Global FX Volatility

Global FX Volatility In the current environment of low inflation and low interest rates, volatility in foreign exchange markets hits record low. Image: BofA Global Investment Strategy

U.S. Real Yields and Gold (Leading Indicator)

U.S. Real Yields and Gold (Leading Indicator) Chart suggesting that real yields could fall further, either through lower rates or higher inflation expectations. Image: Bloomberg

10-Year Annualized Real S&P 500 Total Return

10-Year Annualized Real S&P 500 Total Return This chart puts into perspective the 10-year annualized real S&P 500 Total Return (adjusted for inflation). Image: Bianco Research