Charts to WatchGlobal Market Update

July 26 2014

Global Clients…Global Portfolios

disclosure: The opinions expressed in this Weekly Chart Book report are those of the author. The materials and commentary are strictly informational and should be used for research use only. This bulletin is not intended to provide investing or other advice or guidance with respect to the matters addressed in the bulletin. All relevant facts, including individual circumstances, need to be considered by the reader to arrive at investment conclusions that comply with matters addressed in this bulletin. Charts and information used in this report are sourced from Bloomberg.

Financial Conditions

5

Developed Markets – Year to Date

6

Emerging Markets – Year to Date

7

The VIX Index (S&P 500 Implied Volatility)

8

Global Financial Stress Index (Higher Level = Higher Stress)

9

S&P 500 – This Week

10

10 Year UST Yields – This Week

11

Gold Price – This Week

Fixed Income & Credit

13

US Yield Curve (Current vs. 1 Month & 12 Months Ago)

14

UST Curve vs. US Investment Grade Curve

15

U.S. Treasury 2 Year Yield

16

U.S. Treasury 10 Year Yield

17

U.S. Treasury 30 Year Yield

18

Fed’s 5 Year Forward Breakeven (Inflation Expectations)

19

Investment Grade Bond Prices

20

Investment Grade Credit Spread (BBB – 10 Yr. UST Yield)

21

High Yield Bond Prices

22

High Yield Credit Spreads (HY – 10 Yr. UST Yield)

23

Emerging Market Debt (USD Denominated)

24

Emerging Market Bond Spreads

Global Equities

26

MSCI All Country World Index

27

S&P 500 Index

28

MSCI EAFE (Europe, Australia, Far East) Index

29

MSCI Emerging Markets Index

30

Trend Analysis by Sector (S&P500)

31

Sector Performance by Region (YTD)

32

S&P 500 vs. High Yield Bonds (HYG) – YTD

The Economy

34

Last week’s Economic Calendar

35

Next week’s Economic Calendar

36

U.S. Economic Watch – Leading Economic Indicators

37

U.S. Economic Watch – Leading Economic Indicators

38

U.S. Economic Watch – Housing Market

39

U.S. Economic Watch – Housing Market

40

US Auto Sales Total (Annualized SA)

41

NFIB Small Business Actual Capital Expenditures

42

Business 6 Month Outlook for CAPEX

Currencies & Commodities

44

World Currencies vs. U.S. Dollar (6 Month Spot Returns)

45

World Currencies vs. U.S. Dollar (Spot Forecast: Q4 2014)

46

US Dollar Index

47

Euro €

48

Global Commodity Prices

49

Continuous Commodity Index – 5 Years

50

Gold Prices – 5 Years

51

Crude Oil Prices – 5 Years