Charts of the Week
Midterm Election Update
April 18, 2018
An update of the political landscape as the midterm elections draw closer
An update of the political landscape as the midterm elections draw closer
The Fed is falling short of planned balance sheet reductions. So far this is only a small deviation, but it bears watching.
Although the Fed has begun the process of normalizing its balance sheet, central bank balance sheets across the globe are still larger than ever.
Stock returns since the beginning of 2018.
Bond total returns since the beginning of 2018.
Commodity total returns since the beginning of 2018.
Interest rates since 1790
A better approach to 12-month recession forecasts sounds an all-clear for the U.S. but shows slowing growth in Europe presents a real threat.
U.S. Treasury investors are NOT necessarily underestimating the Fed or inflation's potential to rise, but requiring rising prices and wages to truly show up in realized data. This is the 'put up or shut up' phase after investors priced in improving surveys for growth and inflation earlier this year. Range-trading will persist as long as inflation news trends remain subdued.
Today's topics include JP Morgan's opinion on the Fed's decisions, the unbundling of asset management, equity collars, Jeremy Grantham's bearish opinion, Chinese stocks, the British pound, dividend-paying stocks and low trading volume.
Decelerating realized economic growth in the Eurozone threatens to undermine cyclical sector performance in the U.S.