Top 5 Charts of the Day – June 18th, 2020

TLTR-WOW
ECB's TLTRO-III.4 : €1308bn
The Largest Longer Term Refinancing Operation ever. pic.twitter.com/MAS5gTIk9o

— Frederik Ducrozet (@fwred) June 18, 2020

It has never been cheaper for top-rated U.S. companies to borrow money. Average investment-grade bond yields have dropped to an all-time low of 2.17%. pic.twitter.com/mBTi0XDWtf

— Lisa Abramowicz (@lisaabramowicz1) June 18, 2020

If only there were signs of a massive asset bubble.$WLSH vs GDP pic.twitter.com/weBeXGVG3g

— Sven Henrich (@NorthmanTrader) June 18, 2020

Disconnect between earnings and share prices – Bloomberg
*Earnings (after-tax profit for all companies) dropped in 1Q20 by 16%, the biggest ⬇ since 2008, and are poised to fall again in 2Q20.
*Yet the #SPX has recovered most of its 34% ⬇ after setting a record in February. pic.twitter.com/tlBmuXmkHN

— Christophe Barraud (@C_Barraud) June 18, 2020

Interesting chart from Morgan Stanley. Stocks tend to worse than average between August and the US Elections. pic.twitter.com/WLOkuxWWTj

— jeroen blokland (@jsblokland) June 18, 2020