Monthly growth rates for the quantity bought in total retail sales - PowerPoint PPT Presentation

Monthly growth rates for the quantity bought in total retail sales 20% November December 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% 2012 2013 2014 2015 2016 2017 Source: M&G, BBC, Office for National Statistics, 21 November 2018 B O N D V I G I L A N T E S

Bears are now in control of equity markets 2950 S&P 500 200 day moving 2750 average 2550 Bulls in control 2350 2150 Bears in control 1950 1750 Source: M&G, Bloomberg, 21 November 2018 B O N D V I G I L A N T E S

Bond market sell-off General Electric British American Tobacco 105 100 100 95 95 90 90 85 80 85 -10.1% 75 -26.2% 70 80 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Telecom Italia Cooperativa Muratori & Cementisti 150 100 140 80 60 130 40 120 -20.8% 20 110 -88.1% 0 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Source: M&G, Bloomberg, 21 November 2018 B O N D V I G I L A N T E S

Total digital e-commerce spending in the US on Cyber Monday 4000 3,680 Total spending in million US Dollars 3500 3,062 3000 2,586 2500 2000 1500 1000 500 0 2014 2015 2016 Source: M&G, comScore