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:
Dave: It’s been a year of really high day-to-day volatility
Source: Strategas as of 12.07.2022
JL: but much more an uncertainty grind than a market of fear, with VIX restrained vs. prior drawdowns
Data as of 12.05.2022
Dave: Obviously, a bad year for stocks as measured by the S&P 500
Source: Jefferies as of 12.07.2022
Dave: but within the indices, major dispersion in performance across sectors in recent years
Data as of 12.05.2022
Dave: Dividends have often played a key role coming out of downturns
Data as of 12.01.2022
Beckham: which lines up well with our current environment of high inflation
Source: SSGA as of 10.01.2022
Brad: Forecasts for rising margins seems a bit questionable given wage pressures and Fed rate policy
Source: Strategas as of 12.05.2022
Brad: putting 2023 earnings estimates at risk of being trimmed more aggressively
Source: Strategas as of 12.05.2022
Joseph: Speaking of 2023, it’s been a long time since Wall Street strategists expected lower prices in the year ahead
Data as of 12.07.2022
Brad: and given impact of higher discount rates on valuation, it’s not hard to see why
Source: Sevens Report
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