DC Lite #121

Welcome back to DC Lite: Daily Chartbook’s free, entry-level newsletter containing 5 of the day’s best charts & insights. Upgrade to get all 30 charts.

1. Homebuyer plans. "Plans to buy a New Home have returned to 20%+ levels for the first time in twelve months."

2. Build to rent. "Developers are building new houses for rent at an unprecedented rate, aiming to capitalize on the steep home prices and higher mortgage rates that are forcing many Americans to keep renting."

3. CPI (II). "Clear disinflation in all 4 major components for CPI: Headline CPI +3.36% (vs. +3.48% prior); Core CPI +3.61% (vs. +3.8% prior); CPI +4.48% (vs. +4.55% prior); Trimmed-mean  +3.52% (vs. +3.61% prior); The Fed will view this as solid (not sufficient) progress."

See: Cubic Analytics

4. Investor Intelligence. "II sentiment moving back to recent extremes. In keeping the bulls, we've kept the bull market (can't have the latter without the former)."

See: Hi Mount Research

5. New vs. Old economy (I). FMS investors are net bullish on "old economy" sectors (Energy, Materials, Industrials) for the first time in over a year.