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
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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