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:


John Luke: One could make the case that wage growth is receding from its highs


Data as of 02.03.2023


John Luke: but until markets discount the structural labor strength, it’s hard to see a sustainable bull market


Data as of 02.03.2023


John Luke: especially given the remaining labor force holdouts in the key age demographic


Data as of 01.31.2023


John Luke: Could this be the unicorn, a “no layoff” recession?


Data as of 02.02.2023


John Luke: With this week’s move, the Fed Funds rate is closing in on the widely-expected “terminal rate”


Data as of 02.02.2023


John Luke: but it’s hard to see a “pivot” without a significant drop in wage growth


Source: Atlanta Fed, Data as of 01.31.2023


Dave: January was an epic “junk” rally, with last year’s trash bouncing from the lows


Source: Strategas as of 02.01.2023


Brad: and high short interest a common denominator for the biggest risers


Data as of 01.27.2023


JD: As the year settles in, we expect companies with real growth and real cash flows to reclaim their leadership role


Data as of 01.03.2023






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