What is the Biggest Risk Right Now for Investors? What is the Biggest Risk Right Now for Investors? The risk of a Fed policy error The probability of a Fed rate cut in July 2019…

Initial Fed Rate Cuts and Resulting Forward Market Returns This spreadsheet also shows that the S&P 500 has performed well on average, around first Fed rate cut. Image: Fundstrat Global Advisors, LLC

Eurozone Inflation and Brent Oil Prices This interesting chart shows the direct effect of brent oil prices (YoY % change) on euro area inflation. Image: Jeroen Blokland

China 10-Year Bond Yield Leads US 10-Year Bond Yield This interesting chart shows that China 10-year bond yield tends to lead the U.S. 10-year bond yield by two months. Image: Jeroen Blokland

Probability of US Recession is Rising Mike Wilson, chief U.S. equity strategist for Morgan Stanley, said that “Fed could cut as soon as July but it may not halt slowdown/recession.” Image: U.S. Global Investors

Quarterly Seasonality of S&P 500 Returns vs. STOXX Europe 600 U.S. equity returns tend to be strongest relative to Europe during the second quarter. Image: Goldman Sachs Global Investment Research

U.S. Recessions since 1800 This interesting chart shows that U.S. recessions are becoming rarer over time. The last U.S. recession began in December 2007 and ended in June 2009. Image: Fidelity Investments

Global Equity – Bond Flows According to Bernstein, the S&P 500 not far from its all-time high, could set a new record. Image: Berstein Research

U.S. Debt Markets An interesting chart showing the breakdown of U.S. debt markets. Image: Bianco Research

Who Owns the Equity Market? Most of the equity market is owned by households and mutual funds. But ETFs and foreigners continue to gain share. Image: Bianco Research

U.S. 10-Year Breakeven Inflation Rate vs. Russell 2000 Index Could this interesting correlation persist over time? Image: Hayek and Keynes