DC Lite #496

"We've done over $300bn in equity ETFs over the last 3 months"

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

1. Fed sentiment. "Bloomberg Intelligence’s sentiment index shows the Fed at its most dovish posture, at least on paper," since early 2021.

2. Home prices. "In a reversal of longer trends, prices are rising in cheaper cities and dropping in America’s most expensive metros."

3. SPX vs. 10-year. "Recent 10-year yield rise approaching levels that could cause equity indigestion. Last few years equities have not responded well when yields increase too quickly."

4. Equity ETF flows. "We've done over $300bn in equity ETFs over the last 3 months, that's only the second time that's happened in history. Another way to look at this ... year 1 ... Oct'22 to Oct'23, only did about $1.3bn per day ... we're now up to about $5.5bn per day for Year 4".

5. High Beta vs. Low vol. High beta stocks (SPBH) have now outperformed their low volatility counterparts (SPLV) for a record 13 consecutive sessions. The previous record was 8 sessions.

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ICYMI

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