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: VIX has fallen into lower levels indicating complacency, but that hasn’t historically led to weaker returns


Source: Strategas as of 07.24.2023


Beckham: but for those looking to participate in equities, it’s been some time since hedges could be purchased at prices this cheap


Source: BofA via Market Ear as of 07.24.2023


John Luke: Inflation has fallen sharply across all segments


Data as of 07.24.2023


Dave: mirroring the drop in pace of consumer spending


Source: Raymond James as of 07.27.2023


John Luke: and markets are becoming confident that this week was the last hike


Data as of 07.26.2023


Brad: But are commodities signaling that the fall in prices may be reaching its limit?


Data as of 07.24.2023


John Luke: US corporations played the interest rate cycle just as well as US homeowners


Data as of 07.24.2023


John Luke: and based on the chart below, they’ve also reduced their share of government tax receipts over the past decade


Data as of 07.24.2023


Dave: Communications and technology are generating the lion’s share of upside earnings surprises


Source: Strategas as of 07.27.2023


Dave: helping overall earnings bottom in recent months


Source: Strategas as of 07.24.2023


Joseph: If conditions have indeed improved, it’s not a secret anymore


Source: Strategas as of 07.24.2023





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