The Market in Pictures, August 19

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fill the puzzle of evidence:

Derek: We’ve had quite a bounce in equities since mid-June, how does it compare to previous bear market rallies

…or new bull markets?

Dave: Hard to say, but there has been a pattern of stocks bottoming before or during the recession not after

Source: Strategas 08.17.2022

JL: We’ve seen folks note the “breadth thrust” that has signaled new bull runs, but prior instances occurred with the yield curve as a tailwind not headwind

Source: Strategas as of 08.17.2022

Brad: Buybacks are rising…

Source: Strategas 08.18.2022

Dave: …but earnings estimates are falling

Data as of 08.15.2022

JL: Inflation expectations seem to be stabilizing…

Source: Raymond James as of 08.10.2022

…though that could be a function of the “2% magnet” that Wall Street seems to always have in mind

Source: Bianco as of 08.16.2022

JL: Next up, Quantitative Tightening

Source: The Market Ear as of 08.18.2022

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