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: Early-year strength in stocks has tended to lead to healthy performance
Source: Strategas as of 03.04.2024
Brett: though that pattern has not gone unnoticed
Source: Hi Mount as of 03.06.2024
Brian: and the cost of taking the other side of that pattern has fallen to pre-Volmageddon levels
Source: Aptus as of 03.06.2024
Beckham: We’ve seen business conditions strengthen across all sectors for the first time since April 2022
Data as of 03.04.2024
Brad: though when it comes to stocks it’s a semiconductor party and everyone else is just hoping to join along
Source: Strategas as of 03.05.2024
John Luke: with Nvidia by far the belle of the ball
Source: @dampedspring as of 03.07.2024
John Luke: The market finally seems to be about in gear with Fed expectations of delayed rate cuts
Data as of 03.06.2024
Joseph: as near-term inflation expectations move well above the Fed’s target rate
Data as of 03.06.2024
John Luke: which is a hard thing to reverse when spending is as strong as it’s been
Data as of 03.05.2024
John Luke: Corporations loaded the boat on high-yield bond issuance when rates were at the historic COVID lows
Data as of February 2024
John Luke: and while yields are higher today, new buyers aren’t demanding much compensation for credit risk
Source: Fidelity as of January 2024
Beckham: Like corporations, individuals with mortgages are generally sitting pretty with low fixed rates
Data via Bloomberg as of February 2024
Beckham: but non-mortgage debt is starting to grab a larger portion of consumer interest payments
Data via Bloomberg as of February 2024
Brad: If a recession is coming, it’s not being reflected in the performance of normally defensive sectors
Source: Strategas as of 03.07.2024
Brian: Buying “cheaper” stocks hasn’t delivered much value in recent years, but smaller stocks are in what has historically been an area from which better returns can take place
Data as of 03.07.2024
Disclosures
Past performance is not indicative of future results. This material is not financial advice or an offer to sell any product. The information contained herein should not be considered a recommendation to purchase or sell any particular security. Forward-looking statements cannot be guaranteed.
Projections or other forward-looking statements regarding future financial performance of markets are only predictions and actual events or results may differ materially.
This commentary offers generalized research, not personalized investment advice. It is for informational purposes only and does not constitute a complete description of our investment services or performance. Nothing in this commentary should be interpreted to state or imply that past results are an indication of future investment returns. All investments involve risk and unless otherwise stated, are not guaranteed. Be sure to consult with an investment & tax professional before implementing any investment strategy. Investing involves risk. Principal loss is possible.
Advisory services are offered through Aptus Capital Advisors, LLC, a Registered Investment Adviser registered with the Securities and Exchange Commission. Registration does not imply a certain level or skill or training. More information about the advisor, its investment strategies and objectives, is included in the firm’s Form ADV Part 2, which can be obtained, at no charge, by calling (251) 517-7198. Aptus Capital Advisors, LLC is headquartered in Fairhope, Alabama. ACA-2403-16.
