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DC Lite #56
5 of Monday's best charts and insights
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. Purchasing power. "Homebuyers on a $3,000 monthly budget have gained nearly $40,000 in purchasing power since mortgage rates peaked last fall."
2. Real vs. nominal rates. "If inflation has sustainably returned to the Fed’s 2% target, then real rates—nominal rates adjusted for inflation—have risen and might be restricting economic activity too much. This means the Fed needs to cut interest rates."
3. True Financial Conditions. According to Gavekal's measure, financial conditions are as restrictive as they were at the onset of the GFC.
4. EM currencies vs. SPX. "If EM Currencies are below their July highs (when stocks peaked), then the biggest risk for stocks is lower or sideways, not higher."
5. Growth vs. Value. "Over the last seven months, Growth EPS has been revised higher by 5%, while Value EPS has been revised lower by 3%. In this time Growth outperformed Value by 10%."
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