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Returns on the MSCI All Country World ex-U.S. vs. the S&P 500 since 1997

Returns on the MSCI All Country World ex-U.S. vs. the S&P 500 since 1997.png

U.S. high yield spreads and high yield default rates during recessions since 1987

U.S. high yield spreads and high yield default rates during recessions since 1987.png

State and local and federal net debt since 1930

State and local and federal net debt since 1930.png

Relative price-to-book ratio since 2000

Relative price-to-book ratio since 2000.png

Private equity outperformance vs. public markets on a 10-year rolling basis since 1991

Private equity outperformance vs. public markets on a 10-year rolling basis since 1991.png

U.S. debt to GDP ratios since 1975

U.S. debt to GDP ratios since 1975.png

U.S. dollar in historical perspective

U.S. dollar in historical perspective.png

Historically, emerging market debt has rebounded quickly from a downturn

Historically, emerging market debt has rebounded quickly from a downturn.png

The yield curve 2019 vs. 2013

The yield curve 2019 vs. 2013.png

Length and strength of economic expansions since 1900

Length and strength of economic expansions since 1900.png

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