The Market in Pictures, November 18

by | Nov 18, 2022 | 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:


JL: Year-over-year food costs are set to deflate for the first time since pre-COVID


Source: Bianco as of 11.16.2022 


Brad: though food costs are an outlier when you look across the universe of CPI components


Data as of 11.11.2022


JD: The rate of producer price inflation may have peaked but is still running way above the Fed’s 2% goal


Source: Stifel as of 11.15


JL: and investors are still debating daily whether prices will follow a 1940s or 1970s path


Source: Raymond James as of 11.17.2022


Beckham: Historically, rate hikes have stopped once short-term rates rose above than long-term rates


Source: Strategas as of 11.17.2022


JL: and the current inversion has now reached into the 3 month/10 year curve


Source: Bianco as of 11.16.2022


 Joseph: Prior bear markets have often signaled a shift in sector leadership


Data as of 09.30.2022


JL: which could be significant given the extreme weight hit by the famed megacap tech names


Source: Strategas as of 11.14.2022


Dave: and deliver extreme episodes of performance disparities


Source: Strategas as of 11.16.2022


 JL: Earnings estimates have historically tracked closely with stock prices


Data as of 09.30.2022


Dave: and earnings are finally showing showing signs of moving in tandem with stock prices to the downside



JL: which makes (lower) earnings yields a lot less attractive relative to (higher) Treasury yields


Source: Bloomberg as of 11.16.2022






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