The Market in Pictures, September 23

by | Sep 23, 2022 | Blog, Charts

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and how they help fill the puzzle of evidence:


John Luke: This year already ranks with some of the worst modern markets for the frequency of big down days


Source: Bespoke


Joseph: …largely a function of equity valuations resetting in the face of yields surging


Data as of 09.22.2022


Brad: Price/earnings compression due to rates is approaching the tech bottom


Source: Strategas as of 09.20.2022


Brad: …but nowhere near historic lows if you measure the same by the Consumer Price Index (CPI)



Source: Strategas as of 09.20.22


John Luke: The new FOMC dot plot shows a bump in rate expectations



Source: Bloomberg as of 09.21.2022


Dave: …but let’s be honest, the best description for the accuracy of FOMC forecasting might be “LOL”


Source: Raymond James as of 09.20.2022


Dave: No longer a TINA (There is No Alternative) world, as T-bills yield more than even yield-heavy sectors


Source: Strategas as of 09.22.2022


John Luke: …yet High Yield investors remain uncompensated for the risk environment


Source: Strategas as of 09.19.2022


Dave: Federal Interest Costs in the US are already rising



Source: PSC as of 09.21.2022


John Luke: …and Europe is facing an ugly winter with unprecedented energy costs




Beckham: Owners’ equivalent rent is just now starting to impact official inflation readings


Source: Bianco as of 09.21.2022


Dave: …but optimists hope that money supply reduction starts to dent some of the inflation we’ve seen


Data as of 09.16.2022





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