Global Financial Conditions Index and Global Manufacturing PMI Chart suggesting that easier financial conditions should feed through to growth, unless monetary policy is less effective. Image: Goldman Sachs Global Investment Research
Advanced Economies – Global GDP Forecast for 2020 Oxford Economics thinks that IMF’s new global GDP growth forecasts for 2020 are too optimistic. Image: Oxford Economics
The Performance of “Deflation Assets” vs. “Inflation Assets” Interesting chart showing the performance of “Deflation Asset” vs. “Inflation Assets” since 1960. “Deflation Assets”: Government Bonds, US Investment Grade, S&P 500, US Consumer Discretionary, Growth and US High Yield “Inflation Assets”: TIPS, EAFE, US Banks, Value and Cash Image: BofA Merrill Lynch
China Imports Lead World GDP This chart shows that China imports is a key factor of global growth, and clearly lead world GDP. Image: Oxford Economics, Macrobond
Number of DM and EM Central Banks Easing Each Month Currently, most of the world’s central banks are easing, to boost money supply in the economy and stimulate economic growth. Image: J.P. Morgan
University of Michigan Consumer Expectations Index and Real Consumer Spending This chart shows the correlation between consumer expectations and real consumer spending, and suggests real consumer spending growth of around 2.5-3%. Image: ING
Year to Date Performance Nice chart showing that REITs, large growth, S&P 500, gold and bonds perform best, through September. Image: Fidelity Investments
Global Manufacturing PMI and Multi-Asset Portfolio Returns This chart suggests that markets have not taken into account this year’s growth and profits slump. Image: J.P. Morgan Asset Management
U.S. ISM Composite Index and U.S. Real GDP This chart shows the good correlation between the ISM Composite Index (services + manufacturing) and U.S. real GDP. What about U.S. GDP growth in 2020? Image: Deutsche Bank Global Research
U.S. GDP vs. Global GDP The chart suggests that global growth has led U.S. growth this business cycle. And it also shows the high correlation between U.S. GDP and Global GDP. Image: Cantor Fitzgerald