The Market in Pictures, December 23

by | Dec 23, 2022 | Blog, Charts

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:


JL: Markets are no longer buying the Fed’s hawkish story


Data as of 12.16.2022



JL: Still hard to believe the insanity of the yield curve (and the Fed) just a year ago



Source: Bond Bloxx as of 12.20.2022



Dave: It goes well beyond the Fed; global central banks have even tougher inflation fights on their hands, and no dual mandates to consider employment



Source: PSC as of 12.16.2022



JL: and even the Bank of Japan took a step in the direction of tightening



Data as of 12.21.2022



JL: Recession expectations continue to grow



Data as of 12.19.2022



Brad: but an earnings recession hasn’t always coincided with market downturns



Source: Strategas as of 12.16.2022



Beckham: The performance dispersion between traditional growth and more cyclical industries is still wide on a secular basis





JL: and we’ve yet to see any shift in the market’s largest companies



Source: Strategas as of 12.19.2022








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