TELLING CHARTS

Perusing some broker reports, I found these telling charts (from RBC Capital, Goldman Sachs, UBS, BofAML, BMO Capital). I say telling because they save me a lot of words. Who knows, they may save you money…

• ECONOMIC GROWTH IS WHERE “U” ARE:

Only the U.S. and the U.K. are experiencing strong PMIs. Canada is at an ok 52 but everybody else is at or below par.

• U.S. NEW ORDERS RISING FASTER THAN STOCKS:

Production’s got to ramp up:

• NO U.S. RECESSION IN SIGHT:

• THE FED IS NOWHERE NEAR ENGINEERING AN INVERSED YIELD CURVE,

…which always precedes (causes) a recession:

• THE U.S. ECONOMY IS SURPRISING EVERYBODY, FED INCLUDED, WHILE EUROPE IS DRAGHING ITS FEET:

• EUROZONE EARNINGS ESTIMATES ARE SINKING FAST:

I am willing to bet that U.S. estimates will be perking up pretty soon given the better Q2.

• THE WILE E. COYOTE SHOW:

Oh-Oh!

• MEANWHILE, U.S. EARNINGS GROWTH IS ACCELERATING: