DC Lite #20

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.

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1. Financial conditions. "US Financial Conditions eased 90 bps in November, the largest monthly easing on record (dating back to 1982)."

See: Marlin Capital

2. Oil vs. inflation expectations. "The rise and fall of the oil price over the last few months has passed with minimal impact on US short-term inflation breakevens."

3. Sell Side Indicator. "Historically, when the indicator has been here or lower, 12m forward S&P 500 returns were positive 96% of the time (vs. 81% overall) with a median return of 21%."

4. Momentum begets momentum. "Since 1950, when the S&P 500 has rallied 8.6% or more in a month, [as it did in November], it’s posted above-average returns in   the future."

5. Value vs. Growth (I). "Turns out, levels actually matter. Value is climbing back into the driver's seat at the same place it did back in 2020 and 2021."