Developed Country Policy Rates Above the United States Look for the mistake: the number of countries with a policy rate above the U.S. is zero. Image: Bianco Research

U.S. ISM Manufacturing Index vs. U.S. ISM Non-Manufacturing Index Although the non-manufacturing sector’s growth slowed, it continues to reflect strength for now. Image: Nordea and Macrobond

S&P 500 Gap Risk The S&P 500 Index is subject to significant gap risks under the Presidency of Donald Trump. Image: Hayek and Keynes

Purchasing Power of the U.S. Dollar since 1913 How does inflation effect the purchasing power of money? $100 in 1913 would only be worth $3.87 in 2019. Image: howmuch.net

U.S. Buybacks vs. European Buybacks This chart shows that European buybacks are not as popular as they are in the U.S.. Image: Goldman Sachs Global Investment Research

Fed Rate Cuts Priced In and Recession Insurance cuts or recessionary cuts? It usually doesn’t end well, when the bond market begins to price in more than three rate cuts over the next 6 months.…

MSCI All Country World Index (ACWI) Dividend Yield Less U.S. 10-Year Yield When the spread has been greater than 1%, it has been a good support for the MSCI All Country World Index. Image: Exane…

Demographics and U.S. 10-year Treasury Yield The trend in global savings has turned. The chart suggests that the dis-saving phase is likely to be inflationary. Image: Gavekal, Macrobond

Forward PE Ratio and Real 10-Year Treasury Rate Lower real 10-year Treasury rates suggest lower equity market multiples. Image: Morgan Stanley Research

Global Negative Yielding Bonds This chart shows all bonds in the world at negative interest rates. Image: Goldman Sachs Global Investment Research

Total Allocated Exchange Reserves by Currency The U.S. dollar represents 61% of all central bank foreign reserves. And the total value of all currencies held in foreign exchange reserves is almost $11 trillion. Image: howmuch.net