DC Lite #40

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.

Before we get to the charts, a quick shoutout to our friends over at Harkster.

For the uninitiated, think of the Harkster Research Platform as X (read: Twitter) but without the bots, shit posts, and trolls.

In short, Harkster is a great way to streamline financial information that matters while filtering out the noise, all in one place.

1. World Container Index. Container shipping rates across 8 major global routes increased 61% this week.

2. Stocks vs. bonds. The proportion of stocks that are positively correlated to bonds is at extreme levels, both globally and in the US.

3. Active managers vs. US equities. The NAAIM Exposure Index plunged from a +2-year high of 102.7 to 70.9 over the past week.

4. Breadth metrics. "A downtrend in these breadth metrics is a good thing! And they have been moving lower since peaking in the summer of 2022."

5. Encore performances (II). And finally, according to data from SoFi, the S&P 500 tends to underperform in the 1-, 2-, and 5-year periods following a +20% annual gain (as compared to all years and negative years).