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: Technically an up month for stocks, but only if you’re concentrated in megacap tech



John Luke: as you go outside of tech, not many positive outcomes


Source: Strategas as of 06.01.2023


John Luke: which is a continuation of the theme since the lows last fall


Source: Strategas as of 05.27.2023


John Luke: Speaking of dispersion, US and foreign markets have historically had long cycles of outperforming one another


Source: Ned Davis Research as of May 2023


Dave: and regions such as Europe are particularly inexpensive versus valuations in the U.S.


Source: Bernstein as of 05.29.2023


Brad: but is it “Europe undervalued” or “US overvalued”?


Data as of April 2023


John Luke: Unprecedented domination by the largest S&P 500 components


Source: Strategas as of 05.27.2023


Dave: the dominance of which is more supported by popularity than the actual business results of those companies


Source: Strategas as of 05.27.2023


Brad: History tells us these heavy hitters haven’t fared well historically after reaching these heights


Source: Dimensional as of 2022 HT @mebfaber


Derek: but maybe instead of flowing out of the market, those profits can just get spread into the broader market of stocks?


Data as of May 2023


John Luke: Treasury yields have had quite the range over the past year, especially at the short end of the curve


Source: SouthState Bank as of 05.31.2023


John Luke: as inflation expectations have adjusted higher from historical lows


Data as of May 2023


John Luke: The good or bad luck of one’s retirement date can make a huge difference in the chance they’ll have sufficient funds for future needs


Source: Virtus as of October 2022


John Luke: but it’s also important to allocate enough to growth vehicles in order to reduce the sneaky “longevity risk” of outliving one’s savings


Source: Virtus as of 2022






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