APTUSCAPITAL ADVISORS
Talk to us
About
Our People Philosophy
Solutions
Managed Portfolios Option Overlays Active ETFs Box Spread Loans Trading & Operations
Shared CIO Support Perspectives News & Media Investment Hub Talk to us
Perspectives

The Aptus Blog

Market notes, charts, investment concepts, and timely market updates, directly from our investment team.

2023-03-31 · Market in PicturesThe Market in Pictures, March 31Our 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: John Luke: Yie2023-03-24 · Market in PicturesThe Market in Pictures, March 24Our 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: John Luke: The2023-03-23 · Market UpdatesGet to Know the Aptus TeamA partner firm is only as good as its people, and we think ours are great both in and out of the office. Hope you’ll enjoy a short video and Q&A from a few of us, sta2023-03-21 · Bonds & RatesThe Current Opportunity Set in BondsMunicipal Spreads are Lacking Luster Spreads on short municipal paper (10yrs and in) are well inside their historic averages. Source: UBS. As of March 17th, 2023. Municip2023-03-20 · Market UpdatesFDIC vs SIPC: What Happens When Financial Institutions Fail?Over the past week, headlines have been dominated by news of Silicon Valley Bank’s collapse along with the failures of Silvergate Bank and Signature Bank of NY. The FDIC 2023-03-17 · Market in PicturesThe Market in Pictures, March 17Our 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: Derek: Hopeful2023-03-14 · Bonds & RatesFebruary 2023 CPI UpdateConsumer prices rose in February by the most in 5 months, although the move was roughly in line with expectations. Headline CPI number moved lower to 6.0% YoY as the Febr2023-03-13 · Bonds & RatesBank Bailout2 Years a Movin’ To give some perspective on the move in Fed Funds rate the last couple days, we have just witnessed one of the fastest/ largest slides since 1987. Source2023-03-10 · Market UpdatesAptus Musings: Banking on DepositsI hope that y’all have not had PTSD 2.0 of the GFC over the last few days. The KBW Regional Banking Index (KRE) is having its worst week since … October 2008. We had to b2023-03-10 · Market in PicturesThe Market in Pictures, March 10Our 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: Beckham: The h2023-03-07 · Market UpdatesAptus Musings: Equity Risk Premium (ERP)I’ve fielded a few questions regarding Mike Wilson’s (of Morgan Stanley) recent market commentary. Outside of corporate profitability, i.e., margins driving down future e2023-03-07 · Market UpdatesIt’s the Tails That Worry UsThis month’s note is a carryover from last month’s, where we highlighted the rise of the “set it and forget it” portfolio over the last couple of decades, and the potenti2023-03-07 · Market UpdatesMeet the Team : Clay CalhounYou might have seen our Team Page with our full team lineup, showing us in the office setting, with the usual bios about backgrounds and roles. We wanted to show you who 2023-03-03 · Market in PicturesThe Market in Pictures, March 3Our 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: Without 2023-03-01 · Bonds & RatesFleeting Bond RallyWhile bonds got off to a fast start this year, February’s returns were almost the mirror image from a total return standpoint. As the chart shows, Bloomberg’s Global Aggr2023-03-01 · Market UpdatesRearview to Windshield, March 2023February ‘23 Market Recap: The January rally suddenly looks distant as equities closed lower for the month, finishing down 5.0% from their early February peak. This has b2023-02-24 · Market in PicturesThe Market in Pictures, February 24Our 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: The earl2023-02-23 · Market UpdatesAptus Musings: Debt Ceiling Part DeuxI’m going to cut to the chase here – I’ve been reading a lot on the debt crisis here recently, especially after the Congressional Budget Office (“CBO”) released its lates2023-02-22 · Investment ConceptsIt’s Time to Move Cash Out of The BankPulling up to the bank in a gold Cadillac with my grandad when I was 7, I was excited. The chance to open my first bank account and make my first deposit. Not sure if it 2023-02-17 · Market in PicturesThe Market in Pictures, February 17Our 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: John Luke: It’2023-02-16 · Bonds & RatesMarket Finally Getting the Point?The blue line below is what the Fed is communicating per their DOT plot, on the terminal rate going to a range of 5.00% to 5.25%. The orange line is yesterday’s Fed Funds2023-02-14 · Market UpdatesAptus Musings: Q4 2022 Earnings Season RecapQ4 ’22 Earnings Season Given current levels of Nominal GDP (+7.3% YoY) & Real GDP (+2.1% YoY), it appears that a recession has been delayed, but the market has begun 2023-02-14 · Bonds & RatesHigher For LongerAnother Stubborn CPI Report Likely Pressures Fed to Maintain Hikes The BLS’s latest inflation figures published this morning showed consumer prices rose 6.4% Y/Y in Janua2023-02-10 · Market UpdatesMeet the Team : Matt McGowanYou might have seen our Team Page with our full team lineup, showing us in the office setting, with the usual bios about backgrounds and roles. We wanted to show you who 2023-02-10 · Market in PicturesThe Market in Pictures, February 10Our 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: John Luke: Fed2023-02-06 · Market UpdatesRethinking AllocationThink Different – Be Different Day in and day out, our time is spent in the trenches with financial advisors and their end clients. Some are new relationships; some we’ve2023-02-03 · Market in PicturesThe Market in Pictures, February 3Our 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: John Luke: One2023-02-02 · Bonds & RatesPost-FOMC, February 2023As expected, the Fed hiked 25bps to the 4.5%-4.75% range, the eighth hike in a year. The markets experienced a pretty large rally following the FOMC meeting & presser2023-02-02 · Market UpdatesRearview to Windshield, February 2023January ‘23 Market Recap: The “January Effect” was in full order this past month. The worst performing sectors in 2022 led last month: Consumer Discretionary (+15%) and C2023-01-27 · Market in PicturesThe Market in Pictures, January 27Our 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 t2023-01-24 · Market UpdatesAptus Musings: Q4 2022 Earnings PreviewIt’s showtime baby! As many of y’all are aware, Q4 earnings season tends to be a bit longer than the others, as it takes a little while longer for companies to close the 2023-01-23 · Market UpdatesAptus Musings: The Debt CeilingUnfortunately, we are about to talk politics – let’s rip the band aid off and dive in. The U.S. just hit its debt limit. Taking a Trip Down Memory Lane Essentially, the p2023-01-23 · Market UpdatesQ4 2022: American PsychoAs one of the most searing dissections of 1980s yuppie culture, American Psycho has become a movie with a cult following, as it depicts Patrick Bateman’s journey of a par2023-01-20 · Market in PicturesThe Market in Pictures, January 20Our 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: John Luke: It’2023-01-18 · Market UpdatesAptus Musings: The Beginning of ’23Stocks have rallied to start 2023 and the biggest reason for the early gains is that investors are interpreting further declines in inflation, slowing economic growth, an2023-01-18 · Bonds & RatesCPI Target MovedThe US government will change its CPI methodology beginning next month. Previously they had updated weights biennially using two years of expenditure data. So for last ye2023-01-13 · Bonds & RatesDecember CPI In-LineCPI was right on the screws with expectations at -0.1% on headline and +0.3% core. But the details do paint a picture of lingering pressures at the core. Core services ro2023-01-13 · Market UpdatesQ4 Recap and Chart BookThis is our biggie each quarter, pages of charts and the context to go with them. As always, we think the windshield view is far more relevant than the rearview. But it’s2023-01-13 · Market in PicturesThe Market in Pictures, January 13Our 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: Dave: Have we 2023-01-09 · Investment Concepts2022 … A Test For Retirees & Sequence RiskIt’s now time to put a wrap on the year to do some reflecting and planning. At this point last year, your sentiment on your portfolio and maybe even the economy was likel2023-01-09 · Market UpdatesFixed Income: 2022 Review + 2023 Preview2022: Unprecedented in Modern Market History For only the third year since 1926, both US stocks and bonds lost money (the other two occurrences were … 1931 and 1969. The 2023-01-06 · Market in PicturesThe Market in Pictures, January 6Our 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: Dave: Not many2023-01-05 · Bonds & RatesNo Sign of a Pause YetReal Bad, Nominal Worse While the Fed might have been slow off the mark in fighting inflation in 2021, they marched double-time last year starting in March, taking the be2023-01-04 · Market UpdatesYield MattersMarkets Have Changed Discounting is the mathematical practice of estimating what a cash flow in the future is worth TODAY. Higher rates used in discounting lead to lower 2023-01-03 · Market UpdatesRearview to Windshield, January 2023December 2022 Market Recap: There was no “Santa Claus” rally in December – more of a “Santa Snooze” – as the market traded effectively sideways the last 2 weeks to finish2022-12-30 · Market in PicturesThe Market in Pictures, December 30Our 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: Dave: No short2022-12-27 · Market UpdatesThe Yield Curve and Its ImpactThe Federal Open Market Committee (FOMC) has the ability to set interest rates through the Fed Funds rate – the overnight lending rate among US banks. Banks are required 2022-12-23 · Market in PicturesThe Market in Pictures, December 23Our 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 ar2022-12-21 · Bonds & RatesCentral Bank Tightening, International VersionBank of Japan (BOJ) Finally Flinched BOJ made a decision to double the trading band of the 10-year Japanese government bond. We believe the move is justified. It may mark2022-12-19 · Market Updates2023 Market Outlook: “A Market in Constant Sorrow”“O Muse!, Sing in me, and through me, tell the story, Of that skilled investor, in all ways of contending, An asset allocation, searching for alpha years on end…” An Invo2022-12-19 · Market UpdatesExecutive Summary: 2023 Aptus Capital Market OutlookThe Necessity to Focus on What Matters – One of the most influential things that we’ve all learned is that short-term events rarely matter. In the moment, they will feel 2022-12-16 · Market in PicturesThe Market in Pictures, December 16Our 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: Dave: Earnings2022-12-13 · Bonds & RatesNovember CPI: Light at the End of the Tunnel?The CPI report came in softer than expected again in November. Core saw the smallest increase since Aug 2021. Core goods were down -0.5% (weakest since April 2020) and co2022-12-09 · Market in PicturesThe Market in Pictures, December 9Our 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: Dave: It’s bee2022-12-08 · Bonds & RatesPeak Funds Rate, For LongerFed chair Powell (and many other FOMC members) have made it clear that as of today, the Fed intends to: Slow down the pace of hikes Reach a higher peak rate than it thoug2022-12-06 · Market UpdatesEverything is Fine?A quick reminder, the formula for generating investment returns looks like this: Return = Yield + Growth +/- Valuation Change Here’s the graphic showing each of the 3 pot2022-12-05 · Market UpdatesRearview to Windshield, December 2022November 2022 Market Recap: The S&P 500 bounce in November (+5.4%) occurred as the US yield curve inverted further as the 10 year treasury yields rallied. This is the2022-12-02 · Market in PicturesThe Market in Pictures, December 2Our 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: This year 2022-12-01 · Bonds & RatesWas that the Powell Pivot 2.0?Powell’s comments and the market response yesterday were noteworthy. The equity market rose (SPX +3.05%) while bond yields rallied across the yield curve following Powell2022-11-30 · Market UpdatesThe Divergence in Energy Stocks vs. CrudeIn the last two weeks, we’ve received several inquiries regarding energy equity outperformance relative to declining oil prices. Many people reference some version of the

Get the research in your inbox.

Loading…