Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:
JL: Markets are no longer buying the Fed’s hawkish story
Data as of 12.16.2022
JL: Still hard to believe the insanity of the yield curve (and the Fed) just a year ago
Source: Bond Bloxx as of 12.20.2022
Dave: It goes well beyond the Fed; global central banks have even tougher inflation fights on their hands, and no dual mandates to consider employment
Source: PSC as of 12.16.2022
JL: and even the Bank of Japan took a step in the direction of tightening
Data as of 12.21.2022
JL: Recession expectations continue to grow
Data as of 12.19.2022
Brad: but an earnings recession hasn’t always coincided with market downturns
Source: Strategas as of 12.16.2022
Beckham: The performance dispersion between traditional growth and more cyclical industries is still wide on a secular basis
JL: and we’ve yet to see any shift in the market’s largest companies
Source: Strategas as of 12.19.2022
Disclosures
Past performance is not indicative of future results. This material is not financial advice or an offer to sell any product. The information contained herein should not be considered a recommendation to purchase or sell any particular security. Forward looking statements cannot be guaranteed.
Projections or other forward looking statements regarding future financial performance of markets are only predictions and actual events or results may differ materially.
This commentary offers generalized research, not personalized investment advice. It is for informational purposes only and does not constitute a complete description of our investment services or performance. Nothing in this commentary should be interpreted to state or imply that past results are an indication of future investment returns. All investments involve risk and unless otherwise stated, are not guaranteed. Be sure to consult with an investment & tax professional before implementing any investment strategy. Investing involves risk. Principal loss is possible.
The content and/or when a page is marked “Advisor Use Only” or “For Institutional Use”, the content is only intended for financial advisors, consultants, or existing and prospective institutional investors of Aptus. These materials have not been written or approved for a retail audience or use in mind and should not be distributed to retail investors. Any distribution to retail investors by a registered investment adviser may violate the new Marketing Rule under the Investment Advisers Act. If you choose to utilize or cite material we recommend the citation, be presented in context, with similar footnotes in the material and appropriate sourcing to Aptus and/or any other author or source references. This is notwithstanding any considerations or customizations with regards to your operations, based on your own compliance process, and compliance review with the marketing rule effective November 4, 2022.
Advisory services are offered through Aptus Capital Advisors, LLC, a Registered Investment Adviser registered with the Securities and Exchange Commission. Registration does not imply a certain level or skill or training. More information about the advisor, its investment strategies and objectives, is included in the firm’s Form ADV Part 2, which can be obtained, at no charge, by calling (251) 517-7198. Aptus Capital Advisors, LLC is headquartered in Fairhope, Alabama. ACA-2212-28.
