Gold vs. U.S. 10-Year Real Yield

Gold vs. U.S. 10-Year Real Yield The chart shows the nice correlation between the U.S. 10-year real yield (inverted) and the price of gold as a defensive asset Image: Saxo Bank

U.S. Business Cycle Indicator

U.S. Business Cycle Indicator The Morgan Stanley’s cyclical indicator is still in “downturn.” The entry into the “downturn” phase suggests lower returns for stocks and risky assets. Image: Morgan Stanley Research

Performance of S&P 500 Around the First-Rate Cut

Performance of S&P 500 Around the First-Rate Cut After the first-rate cut, the S&P 500’s performance is much better in mid-cycle than in late-cycle. Image: Societe Generale Cross Asset Research

Equity Market Driven by Bonds Not Profits

Equity Market Driven by Bonds Not Profits The chart shows a widening gap between cyclicals and bond proxies. It is clearly a cyclical bear market within a bull market, as during the dotcom bubble. Image: Societe Generale Cross Asset Research

Gold vs. Real U.S. Rates

Gold vs. Real U.S. Rates The chart shows the nice correlation between real U.S. rates (inverted) and the price of gold as a defensive asset. Image: Richardson Wealth

Countries With the Highest Housing Bubble Risks

Countries With the Highest Housing Bubble Risks Detecting and measuring asset bubbles is not always an easy task, but in many countries, housing prices are rising faster than rental rates. Image: Visual Capitalist

U.S. Output Gap vs. U.S. Consumer Confidence

U.S. Output Gap vs. U.S. Consumer Confidence Great chart showing the strong correlation between U.S. consumer confidence and the U.S. Output Gap. U.S. consumer confidence always peaks before a recession. Image: Pictet Asset Management