Q2 2023 Recap and Chart Book

Q2 2023 Recap and Chart Book

(Click above for the full update) This 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’s through the rearview that we get a sense of the path...

Rearview to Windshield, July 2023

June ‘23 Market Recap: The banking fears of Q1 faded into an all-out Artificial Intelligence (“AI”) FOMO trade in Q2, as the S&P 500 returned 8.74%. Outside of AI, this quarter’s narrative was “Immaculate Disinflation”, which embodies falling inflation and stable...
Aptus 2023 Halftime Report

Aptus 2023 Halftime Report

As we hit the halfway point in the year, investors remain on edge given recessionary worries, persistent inflation, and a slowdown in growth. Yet, we continue to see leadership in markets driving us into the 11th best start to the year for the S&P since 1928 (as...

Can Inflation Slow Without Economic Damage?

  Source: Strategas as of 06.20.2023   Many of the underlying sources of inflation have cooled over the past year. Supply chains have improved, interest rate sensitive sectors are seeing slower growth, but is it enough to get to the fed’s 2% target? The...

The Market in Pictures, June 16

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:   John Luke: Most of the yield curve has separated itself from the Fed Funds rate, with seemingly no rush...