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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