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:
Arch: The market action of the past month has restored sector correlations back to the midpoint of their recent patterns
Source: DataTrek as of 08.27.2024
Brett: at the same time shaking free of the index chains held by the Mag 7
Source: Paulsen Perspectives as of 08.30.2024
John Luke: The rates market is a collection of oddities right now, with high-yield debt getting more favorable treatment than mortgage borrowers
Brad: contributing to a lack of urgency among prospective homebuyers
Data as of 08.26.2024
Joseph: Another obvious contributor to the is the broad rise in prices to go with those higher rates
Source: Marketwatch as of 08.26.2024
Beckham: with no help from the availability of existing homes for sale
Source: Ned Davis as of July 2024
John Luke: There is another contributor to the challenging housing affordability, with investors crowding in
Source: Strategas as of 08.26.2024
JD: spilling over into higher rent growth in markets dominated by investors and institutions
Data as of 08.28.2024
Brett: The general public has little faith that corporations will use artificial intelligence (AI) for the benefit of society
Data as of July 2024
Dave: but the biggest of the big are shoveling money into new projects, heavily centered on AI
Source: Apollo as of July 2024
Brad: Speaking of the Mag 7, active funds just can’t bring themselves to market-weight position sizes
Data as of July 2024
Mark: and hedge funds continue to look outside of tech for opportunity
Source: Goldman Sachs as of 08.26.2024
John Luke: Expectations have settled in for a sustained set of FOMC rate cuts
John Luke: but questions remain around plans for tackling the massive Fed balance sheet
Brian: Stocks have done the job that bonds haven’t been able to do, not only protecting purchasing power but raising living standards for holders
Brian: and the picture is just as lopsided when extending back to the Roaring 1920s
Data as of 06.30.2024
Joseph: As a percentage of overall market value, “cash on the sidelines” isn’t exactly a huge source of support for stocks
Data as of July 2024
Beckham: and even corporations have been putting their large cash flow to work instead of letting it sit, collecting interest
Data as of July 2024
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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.
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