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Economy

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EM Real Earnings Per Share is Below the Long-term Trend

EM Real Earnings Per Share is Below the Long-term Trend.PNG

DM Real Earnings Per Share are Above the Long-term Trend

DM Real Earnings Per Share are Above the Long-term Trend.PNG

The N.Y. Fed’s Recession Probability Index 1960-2020

The N.Y. Fed’s Recession Probability Index 1960-2020.PNG

Modestly Correlated Fed Fund Rate with the Relative Performance of EM vs DM

Modestly Correlated Fed Fund Rate with the Relative Performance of EM vs DM.PNG

Bull Market on 08/24/18

Bull Market on 082418.PNG

US Debt to GDP Levels Dec 1899- Dec 2017

US Debt to GDP Levels Dec 1899- Dec 2017.PNG

Federal Funds Target Rate v.s. S&P 500 Index

Federal Funds Target Rate v.s. S&P 500 Index.PNG

Fixed Income Securities Market Line, 2012 vs. 2018

Fixed Income Securities Market Line, 2012 vs. 2018.PNG

U.S. Yield Curve vs. Unemployment Gap, 1953-2018

U.S. Yield Curve vs. Unemployment Gap, 1953-2018.PNG

The Historical Decline of Global Financial Risk from 1981 to 2011

The Historical Decline of Global Financial Risk from 1981 to 2011.PNG

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