U.S. Yield Curve 18 Months Before Presidential Elections

U.S. Yield Curve 18 Months Before Presidential Elections 18 months before presidential elections, a flatter yield curve suggests a greater tendency to predict a change away from the incumbent President’s party Image: Deutsche Bank

OECD Composite Leading Indicator

OECD Composite Leading Indicator Leading economic indicators suggest that the global economy may have bottomed. Image: Gavekal, Macrobond

Does U.S. Productivity Increase Under Trump?

Does U.S. Productivity Increase Under President Trump? The answer is yes, because businesses have invested. Even if Net Domestic Investment to GDP is in a long-term downtrend, that’s good news for the U.S. economy. Keep in…

U.S. Dollar and Weak Global Growth

U.S. Dollar and Weak Global Growth This spreadsheet shows that Fed policy easing can weaken the U.S. dollar in times of weak global growth. Image: Goldman Sachs Global Investment Research

The Gold to Oil Ratio since 1985

The Gold to Oil Ratio since 1985 When the gold to oil ratio approaches 30x, oil is undervalued. When it approaches 10x, gold is undervalued. Image: Goehring & Rozencwajg

Small Bank Lending and 2-Year/Fed Funds Spread

Small Bank Lending and 2-Year/Fed Funds Spread This chart shows the correlation between small bank lending and falling rates, and the negative effect of an inverted yield curve on small bank lending. Image: TS Lombard

S&P 500 Drawdowns

S&P 500 Drawdowns Drawdowns don’t have a precise time to start or end and they happen all the time. This chart puts into perspective S&P 500 drawdowns. Image: Bianco Research