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DC Lite #1
5 of the day's best charts and insights
Welcome to the debut of DC Lite: Daily Chartbook’s free, entry-level newsletter containing 5 of the day’s best charts & insights. Upgrade your subscription to get all 30 charts.
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1. JOLTs. Job openings increased more than expected to the highest in 4 months, but "quits remain at 2019 levels, hires are below. This, to me, is the central labor market JOLTS story. The labor market is not overheated from the POV of searches and mobility."
2. Q4 GDP (II). The Atlanta Fed's GDPNow estimate for Q4 GDP growth dropped to 1.2% from 2.3% on Oct 27.
3. Equity sentiment. "Equity sentiment declined by 37bp in October (largest decline in a year)."
4. ETF flows. "Flows into large- and mid-cap equity ETFs continue to ease on rolling one-month basis while government bond ETFs pick up slack ... latter had inflows of $5.8 billion (compared to $3.3 billion in prior week)."
5. Down Octobers. "When the S&P 500 declines in October but maintains a positive performance since the beginning of the year, historical trends suggest that the last two months of the year tend to show positive returns."