U.S. Real GDP Growth Leads Core Inflation This great chart suggests that U.S. real GDP growth leads core inflation by 18 months. Image: Oxford Economics, Macrobond

Most Important Variables When Forecasting Real GDP Search trends are very different between China (manufacturing industry) and the USA/Eurozone (consumer), when forecasting real GDP. Image: Arbor Research & Trading LLC

Who Is Buying U.S. Equities? The only buyer of US equities remains corporates, not households and institutions. Image: BofA Merrill Lynch Global Investment Strategy

World – Central Bank Asset Purchases Great chart showing central bank asset purchases. Image: Oxford Economics

U.S. Rates Chart showing the dramatic plunge in interest rates over the past 10 months. On the positive side, the equity risk premium (ERP) is now higher. Image: Fidelity Investments

S&P 500 – Fundamental Factors Volatility The chart shows factor volatility at its highest level since 2016. Image: Goldman Sachs Global Investment Research

U.S. Nonfarm Employment and NFIB Survey If the trade war continues, it will have serious negative repercussions on the American economy. Image: Deutsche Bank Global Research

U.S. ISM Non-Manufacturing Index vs. U.S. ISM Manufacturing Index and Recessions Interesting chart showing the spread between the U.S. ISM Non-Manufacturing Index and the U.S. ISM Manufacturing Index over time. Image: Pictet Asset Management

S&P 500 Operating EPS vs. USA National Income, Corporate Profits Thanks to buybacks, this chart clearly shows the current divergence. Is a new bubble being formed? Image: Nordea and Macrobond

Holders of Negative Yielding Debt Central banks hold 79% of negative-yielding debt. Image: Deutsche Bank Global Research

U.S. and European Buybacks U.S. and European buybacks as percentage of cash are not at their pre-global financial crisis levels. Image: Goldman Sachs Global Investment Research