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: The recession playbook has mostly filled in and markets seem to be adjusting


Source: Strategas as of 04.24.2023


John Luke: though even a perfect economic forecast doesn’t lead to better investment forecasting


Source: Bloomberg as of 04.24.2023


Joseph: As often happens in slowdowns, analysts are banking on the back end of the year to make up for early-year weakness


Source: Bloomberg as of 04.24.2023


Joseph: but it’s hard to envision what might reverse the direction of the past 12 months


Source: Strategas as of 04.24.2023


John Luke: Stocks as a % of GDP are cheaper than at the peak but by no measure are they “cheap”


Source: Bianco as of 04.02.2023


Joseph: though when breaking down by sector there are significant differences across the universe


Source: Strategas as of 04.26.2023


Brad: and small cap stocks are at historically extreme cheapness relative to large cap


Source: Strategas as of 04.25.2023


Joseph: Energy companies have transformed themselves into cash-flow machines in recent years


Source: EIA as of January 2023


Joseph: perhaps putting future energy sources at risk but giving shareholders a much better experience


Source: EIA as of January 2023


John Luke:  A lot of talk about M2 crashing but in the grand scheme there is still plenty of money sloshing around


Source: Daily Shot as of 04.25.2023


Derek: it just may not be flowing into questionable areas


Source: Fidelity as of 04.24.2023


John Luke: Interesting to see the range of investor thoughts about current conditions and what may unfold


Source: Strategas as of 04.21.2023





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