As US Stocks Near Record Highs, These Charts Spell Caution

Peter Boockvar of Bleakley Advisory Group joins us to discuss his global trade outlook, the U.S. stock market and dollar. He says global economic growth is still deteriorating and a trade deal won’t do much to help...

Below are excerpts from the interview which can be seen in full by clicking Stock Buybacks Have Peaked, Says Peter Boockvar.

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Reliable global trade proxies like South Korean exports are at 2008-2009 lows showing the global trade/economic outlook is still quite shaky.

Source: Bloomberg, Financial Sense Wealth Management

Weakness in US manufacturing now filtering into services, with the latter making up around 80% of US GDP and employment.

global trade/economic outlook is still quite shaky.

Source: Bloomberg, Financial Sense Wealth Management

Weakness in US manufacturing now filtering into services, with the latter making up around 80% of US GDP and employment.

Source: Bloomberg, Financial Sense Wealth Management

World's second largest ​economy—China—now growing at slowest pace in nearly 30 years.

Source: Bloomberg, Financial Sense Wealth Management

Further cuts by Fed will have limited economic effects since long-term borrowing rates are already at record lows.

Source: Bloomberg, Financial Sense Wealth Management

Dollar likely in a topping process based on relative strength of other currencies and macro-outlook.

Source: Bloomberg, Financial Sense Wealth Management

We’ve probably seen the peak in corporate buybacks for this economic cycle as companies are now focusing on their debt and leverage ratios, which are both at all-time record highs.

Total US Corporate Debt

Source: Bloomberg, Financial Sense Wealth Management

US Corporate Debt / GDP

Source: Bloomberg, Financial Sense Wealth Management