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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