The Market in Pictures, January 6

by | Jan 6, 2023 | 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:

 

Dave: Not many places to hide in 2022

 

Source: JP Morgan as of 12.31.22

 

 

Dave: and the only group of equities helping portfolios were those with defensive characteristics

 

Source: JP Morgan as of 12.31.22

 

 

Dave: and the broader market outperformed mega-caps after lagging in most recent years

 

Source: Strategas as of 12.30.22

 

 

John Luke: 2022 wasn’t one of the better years for stocks, and it’s hard to point to any clear direction for 2023

 

Source: Bespoke as of 12.30.2022

 

 

Dave: and the recurring bear market rallies have given investors false hope on 5 occasions

 

Source: PSC as of 01.05.2023

 

 

Dave: The Taylor Rule fell out of favor in the Fed’s zero-interest rate regime, but has actually been out in front of conditions

 

 

Source: PSC as of 12.30.2022

 

 

John Luke: and the market is no longer believing the Fed will persist in its hiking cycle

 

 

 

Brad: Earnings estimates continue to leak lower

 

Source: Strategas as of 01.04.2023

 

 

John Luke: with margins the driver of the earnings weakness

 

 

 

Derek: On a positive note, lower prices across asset classes can set up for higher long-term returns

 

Source: Mutual Fund Observer as of 01.03.2023

 

 

 

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