Tariffs and U.S. Government Revenues Tariffs played a crucial role in the early industrialization of the United States, but their effectiveness in today’s global economy are potentially detrimental as they act as an economic drag, hurting more industries than they help. Image: Deutsche Bank
Loan Demand Demand for commercial & industrial (C&I) and commercial real estate (CRE) loans remains weak, which does not bode well for a soft landing. Image: BofA Global Research
Manufacturing PMIs Manufacturing PMIs suggest that the industrial sector may continue to weaken ahead. Image: BofA Global Research
Performance – Sector Sensitivity to U.S. and Global GDP Growth The financial and industrial sectors are the most correlated with global growth. Image: Goldman Sachs Global Investment Research
Sensitivity of S&P 500 Sector Excess Returns to 10-Year Breakeven Inflation Financials, industrials, materials and energy sectors outperform most when inflation rises. Image: Goldman Sachs Global Investment Research
Stocks – U.S. Relative to Developed Markets Excluding U.S. Chart suggesting that the structural outperformance of U.S. stocks is vulnerable to an industrial recovery. Image: BCA Research
U.S. 10-Year Treasury Note Yield Year-Over-Year Change Explained Chart suggesting that the slowing industrial economy and inflation explain U.S. 10-year Treasury note yield. Image: Arbor Research & Trading LLC
The SARS Analog – Virus Outbreaks and Global Markets The chart shows the SARS analog (2002 vs. 2020), highlighting the S&P 500 Index, the MSCI China Index, emerging markets vs. U.S. EPS and the CRB Raw Industrials Index. Image: Fidelity Investments
U.S. Stock Market Performance During U.S. Presidential Election Years Chart showing the average performance of the Dow Jones Industrial Average during U.S. presidential election years, since 1900. Image: Wells Fargo Investment Institute
Stock Market Around First Rate Cut: Recession vs. No Recession The chart shows that the Dow Jones Industrial Average reacts positively to Fed first rate cuts. Image: Ned Davis Research
ANZ Global Lead Index The ANZ Global Lead Index is a leading indicator on global industrial production. The chart shows that growth momentum peaked in 2018. Currently, global growth is actually starting to moderate seriously. Image: ANZ Research