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Economy

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None of the Traditional Recession Signs Are Present

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Recessions Normally Start With a Flat/Negative Yield Curve (1976-2014)...

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Europe Has Rarely Been As Cheap As It Is Today vs. The US

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Growth is Continuing to Recover After 2 Years of Underperformance

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We Are 7 Years into this Bull Market but the Longest one Lasted 13 Years (Since July 1956)

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10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity

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Emerging Economies as a Percentage of the Total World

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US/EUR Fair Value Price (1999-2015)

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Summary of Expected Long-Run Real Return Estimates for Major Asset Classes

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Historical Rolling 5-Year Sharpe Ratios for Four Asset Classes (1960-2015)

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