DC Lite #94

5 of Tuesday's best charts and insights

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Administrative note: As a reminder, DCL will not be published on Friday, March 29.

1. FHFA House Price Index. The index declined for the first time since August 2022, falling by 0.1% MoM in January to 6.3% YoY (prev. 6.7%).

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2. US 2-year vs. commodities. "US rate cuts in non-recessionary environments lead to higher commodity prices, with the biggest boost to metals (copper and gold in particular), followed by crude oil."

3. Client flows. "Excluding corporate clients - where flows are always positive - clients were net sellers of US equities last week - private clients for the 7th consecutive week, hedge funds for the third, and institutional clients for the first time in six weeks."

4. 100-day rally. "Cycling from a 100-day change of < -15% to > +25% has occurred only at some of the most significant inflection points in 60 years. It's also been exceptionally broad, with more than 10 days of more than 80% Up Volume. Similar rallies led to 6-month gains every time."

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5. Five-month win streaks. "The S&P 500 is about to be up 5 months in a row. Strong future returns after these streaks are actually quite normal.  Higher a year later 26 out of 28 times (92.9%) and up 12.5% on avg."

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