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 early 2023 rally brought beta all the way back from the depths of 2022 underperformance


Data as of 02.22.2023


Dave: yet there seems to be no justification beyond a technical bounce


Data as of 02.22.2023


Brad: Real 10 year yields remain historically low relative to CPI


Source: Strategas as of 02.22.2023


John Luke: and the early year bond rally appears to have run out of gas


Data as of 02.21.2023


John Luke: Unlike the past two decades, T-Bills offer a viable alternative to stock dividends


Data as of 02.17.2023


Brad: with even traditional areas of yield falling well short


Source: Strategas as of 02.22.2023


Dave: Small cap earnings have been faring much better than large cap, relative to expectations


Source: Jefferies as of 02.22.2023


Dave: and large cap valuations have retreated from historically extreme valuations


Source: Strategas as of 02.22.2023


John Luke: The Fed’s supposed favorite inflation indicator, Core PCE, staying pretty sticky and well above their stated 2% target


 Source: WSJ as of 02.24.2023




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