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:

Brian: It’s been a pretty average bull run from the lows of Fall 2022


John Luke: but the last 6 months has been historically persistent


Source: Daily Shot as of 05.29.2024


Dave: Despite the great start to 2024 for the S&P 500, nearly half of the large-cap universe is negative for the year


Source: Strategas as of 05.30.2024


Brett: and weakness in the broader market has accelerated in recent weeks


Source: Schwab as of 05.29.2024


Joseph: Rates haven’t been cut, but we appear to be far removed from tight monetary conditions


Source: Apollo as of 05.29.2024


John Luke: with money supply rising again after retracing the massive stimulus of the COVID period



Dave: Even if not cutting rates, stocks have historically fared well during pauses like we’re seeing now



Arch: and the combo of slowing economic growth and rising earnings growth has been a historically positive backdrop


Data as of April 2024


Joseph: One asset that has not fared so well is real estate investment trusts (REITs)


Data as of 05.30.2024


Beckham: and while we’ve not seen home prices suffer a similar fate, we’re seeing the frenzied bidding of 2021-2022 fade


Data as of 05.26.2024


Beckham: and supply is rebuilding a bit from historic lows


Data as of 05.26.2024


Brett: China is a huge economy, but our reliance on them for imports continues to fall


Data as of 05.13.2024


John Luke: but they’re having an impact on the cost of funding for US debt


Data as of 05.16.2024


Arch: with some of those proceeds going to buy gold?


Data as of 05.16.2024


Brad: Valuation is a constant discussion among investors and pundits, perhaps we can gain added perspective through a micro lens vs. macro?





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