Monthly Macro Chart Book

Macro Chart Book – August 2020

The V-Shaped recovery in equities was realized after the S&P 500 crossed pre-pandemic highs. The Fed has pushed back against inflationary concerns as they anticipate zero interest rates and continued expansion in their $7 trillion balance sheet for the foreseeable future. The federal deficit is back in the spotlights after it is projected to eclipse federal taxes for the first time ever. Trade continues to be problematic as imports have largely recovered, but exports remain some $40 billion monthly less than their pre-pandemic levels. These and other economic topics are examined in August’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – July 2020

Q2 GDP was the worst annualized fall since World War II. Even so, strong gains in the labor and housing market raised hopes for a V-shaped recovery. As equity prices approached their pre-pandemic levels, gold also ran up past $2000/oz on inflationary concerns. These and other economic topics are examined in July’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – June 2020

As states began the reopening process, labor markets showed signs of improvement. With jobs returning, consumers and businesses had renewed confidence in their economic outlook. As a result, equities sat just 10% from their pre-coronavirus highs at the end of the month. These and other economic topics are examined in June’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – May 2020

In a positive surprise, the unemployment rate decreased by over 1% in May. A lack of demand has pushed inflation under 1% and equities continue to climb on the backdrop of fiscal and monetary stimulus. These and other economic topics are examined in May’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – April 2020

The unemployment rate went from historic lows to post-wars highs thanks to the impact of the Coronavirus. The Fed balance sheet sits at almost $7 trillion dollars, and may reach $9 trillion shortly. Oil briefly went negative, but rebounded to finish the month at only a small loss. These and other economic topics are examined in April’s edition of Julex’s Monthly Macro Chart Book.

Macro Chart Book – March 2020

The impact of the Coronavirus has already started to be reflected in some of the most recently available economic data. Despite $2 Trillion in stimulus, unlimited quantitative easing, and interest rates that have been cut all the way to 0%, some economists estimate a 30% decline in GDP come Q2. The shutdown has predictably wreaked havoc on the labor market, with 10 million people losing their jobs in the last two weeks. In the background, oil has lost two-thirds of its value in just one quarter. These and other economic topics are examined in March’s edition of Julex’s Monthly Macro Chart Book.