Stages

Features

Leading

Consistent

Lagging

Recommended Assets

1

adjustment

↑

↓

↓

bond

2

recovery

↑

↑

↓

stock (equity)

3

transition

↑

↑

↑

stock↑ + commodity↑

4

overheated

↓

↑

↑

stock↓ + commodity↑

5

stagflation

↓

↓

↑

commodity↓ + metal↑

6

depression

↓

↓

↓

metal↓ + bond↑