Quality of Institutions and GDP

Quality of Institutions and GDP This interesting chart shows how six components of quality of governance control of corruption, (governement effectiveness, stability and absence of violence, regulatory quality, rule of law, voice and accountability) correspond…

Cumulative S&P 500 Buybacks 2009-2019

Cumulative S&P 500 Buybacks 2009-2019 Are buybacks driving the show? Thanks to tax cuts and low interest rates, corporate stock buybacks are booming. Over the past decade, S&P 500 companies bought back $5 trillion shares, while cumulative…

Volatility Across U.S. Presidential Elections

Volatility Across U.S. Presidential Elections Chart showing that outside of recessions, U.S. presidential elections did not contribute much to the volatility of equities, rates and forex. Image: Deutsche Bank Global Research

Emerging Markets Credit Growth

Emerging Markets Credit Growth Chart showing that credit growth in most emerging markets is still growing at a sustained pace. Image: Oxford Economics

60/40 Portfolio Annual Returns

60/40 Portfolio Annual Returns A 60/40 portfolio has delivered an annualized return of 10.15% since 1976, with positive returns in 35 of 43 years. But the coming years may be more challenging, because investors may face…

Passive Equity Fund Assets vs. Active

Passive Equity Fund Assets vs. Active Record passive inflows suggest passive equity funds will surpass active by 2022. Image: BofA Merrill Lynch

Chinese Credit Growth and OECD Leading Indicator for China

Chinese Credit Growth and OECD Leading Indicator for China Chinese Credit growth rebounded in September and suggests stronger activity on the horizon. The OECD leading indicator for China picked up further at the highest level…

U.S. Dollar and U.S. ISM Manufacturing Index

U.S. Dollar and U.S. ISM Manufacturing Index Chart suggesting that sharp falls in the ISM Manufacturing Index are associated with U.S. dollar strength, not weakness. Image: HSBC

S&P 500 Cash Spending

S&P 500 Cash Spending According to Goldman Sachs, cash spending by S&P 500 companies is likely to fall by 6% in 2019, the largest year-over-year decline since 2009. Image: Goldman Sachs Global Investment Research