Charts

Source: Astor calculations

Shaded regions represent recessions as determined by NBER.

The Astor Economic Index® should not be used as the sole determining factor for your investment decision. There is no guarantee that the index will produce the same results in the future. Please refer to the accompanying disclosure for additional information regarding the Index.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Source: KC Fed, Astor calculations

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Source: Bureau of Economic Analysis

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Source: Bureau of Labor Statistics

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Source: Bureau of Labor Statistics

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Source: Bureau of Labor Statistics

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Source: Bureau of Labor Statistics

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Man: Manufacturing PMI, Svc: Services PMI

50 represents activity which is neither increasing nor decreasing

Source: Institute of Supply Management

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Source: Federal Reserve Board

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Source: Bureau of Economic Analysis

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Shaded blue area is FOMC’s 2% target for PCE

Source: Bureau of Labor Statistics, Bureau of Economic Analysis

Shaded regions represent recessions as determined by NBER. Blue shaded region represents the FOMC inflation
target for PCE.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Source: Board of Governors of the Federal Reserve System

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

50 = level where activity is neither increasing nor decreasing
Source: Markit, Institute for Supply Management, Astor calculations

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

10 yr: US ten year bond yield, 2 yr: US two year bond yield, FF: fed funds target rate
Source: Bloomberg

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Shaded regions represent recessions as determined by NBER.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Source for all indexes on this page: Bloomberg.

All information contained herein is for informational purposes only. Please refer to the important disclosure information at the end of the presentation for definitions, additional information and risks.

Disclosures

All information contained herein is for informational purposes only. This is not a solicitation to offer investment advice or services in any state where to do so would be unlawful. Analysis and research are provided for informational purposes only, not for trading or investing purposes. All opinions expressed are as of the date of publication and subject to change. Astor and its affiliates are not liable for the accuracy, usefulness or availability of any such information or liable for any trading or investing based on such information.

The Astor Economic Index® is a proprietary index created by Astor Investment Management LLC. It represents an aggregation of various economic data points: including output and employment indicators. The Astor Economic Index® is designed to track the varying levels of growth within the U.S. economy by analyzing current trends against historical data. The Astor Economic Index® is not an investable product. When investing, there are multiple factors to consider. The Astor Economic Index® should not be used as the sole determining factor for your investment decisions. The Index is based on retroactive data points and may be subject to hindsight bias. There is no guarantee
the Index will produce the same results in the future. The Astor Economic Index® is a tool created and used by Astor. All conclusions are those of Astor and are subject to change.

Approval code 2017-63-34