The Market in Pictures, January 27

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:

Brad: One of the “junkiest” rallies since the Global Financial Crisis, some of the past ones have broadened while others were fleeting

Source: Strategas as of 01.26.2023

JL: maybe a reflection of less restrictive conditions?

Source: Strategas as of 01.22.2023

Brad: The recently falling U.S. dollar surely playing a role in the embrace of risk assets

Source: Strategas as of 01.23.2023

Dave: but there’s also been a surprisingly decent flow of news from European economies

Source: Morgan Stanley as of 01.24.2023

John Luke: The yield curve continues to fire signals of economic weakness

Source: Strategas as of 01.18.2023

John Luke: yet employment has not yet shown signs of a weakening job market

Data as of 01.09.2023

John Luke: In fact, wage growth continues to surge especially at the lower end of the income spectrum

Data as of 01.20.23

John Luke: and job-switchers continue to command significant wage bumps

Data as of 01.20.2023

Dave: U.S. government debt expense is about to rise substantially due to higher rates

Source: Strategas as of 01.23.2023

Dave: yet banks continue to take advantage of consumers who don’t have an advocate or the time to seek a better deal

Data as of 01.09.2023

Derek: “Systematic” sounds helpful, but calendar-based strategies can lead to a wide range of outcomes

Data as of 01.24.2023

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.

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