Total Returns – Gold, Nasdaq and MSCI World ex-US
Total Returns – Gold, Nasdaq and MSCI World ex-US With the Nasdaq at all-time high, markets expect a weak global growth, low inflation and a strong U.S. dollar. Image: Gavekal, Macrobond
Total Returns – Gold, Nasdaq and MSCI World ex-US With the Nasdaq at all-time high, markets expect a weak global growth, low inflation and a strong U.S. dollar. Image: Gavekal, Macrobond
Percentage of Periods Where the Dow Jones Had a Positive Return The probability of a positive return converges towards 100% over a long period of time. Image: Of Dollars And Data
Dow Jones Over Next 250 Sessions Following 20%+ Rise Following a 20%+ rally, the Dow Jones was up by 15.2% on average over the next 250 sessions (one year). Image: Of Dollars And Data
Every Dow Drawdown Greater Than 30% These charts show every Dow drawdown greater than 30% since 1915. Image: Of Dollars And Data
S&P 500 Over Next 250 Sessions Following 6%+ Drop Historically, when the S&P 500 dropped by 6% or more over the prior two sessions, it was up by 16.7% on average over the course of the next 250 trading days, Image: Of Dollars And Data
Relative Performance of S&P 500 vs. Euro Stoxx 50 and EUR/USD EUR/USD fell to lowest level since May 2017. The growth differential should remain in favor of the US dollar. Image: Pictet Wealth Management
S&P 500 When ISM Manufacturing Index Rises Above 50 When the ISM Manufacturing Index rises above 50, U.S. Treasuries and the U.S. dollar tend to weaken, while the S&P 500 tends to rise. Image: Nordea and Macrobond
Gold and Emerging Market Currency Index Historically, a weak U.S. dollar tends to be good for gold and emerging markets. Image: Gavekal, Macrobond
EUR/USD and Differential in Balance Sheet Growth Fed – ECB Chart suggesting that differentials in balance sheet growth between the Fed and the ECB have pushed the U.S. dollar higher. Image: BofA Merrill Lynch Global Research
Central Bank Reserve Holdings of Gold For the first time since the end of WWII, central banks are increasing their holdings of gold to diversify their reserves away from the U.S. dollar, amid trade tensions. Image: Bernstein
Tech Bubble Chart suggesting that a second tech bubble could be about to burst. A strange feeling of déjà vu, even if the chart doesn’t take into account inflation-adjusted dollars. Image: Financial Times