The chart below, via BofA Merrill Lynch strategist Michael Hartnett, provides an interesting visualisation of one of the big themes playing out in global markets right now.
Bloomberg TV anchor Scarlet Fu called this her “single best chart” this morning.
Citigroup, one of America’s largest banks and something of a poster child for the global financial crisis, is taking back ground against Caterpillar, the global construction machinery giant seen as a bellwether for global growth, particularly in China.
The chart underscores both the outperformance of the U.S. economy relative to the rest of the world that everyone is buzzing about and concurrent fears over a global growth slowdown in general, a story in which China plays a central role.
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