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Weekly Chartbook

By: Aaron Lang - Portfolio Analyst

December 1, 2021

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Market Performance (November)

Source: YCharts
Disclaimer: Past performance is no guarantee of future performance

The Good News

GDP expectations continue to go up

And consumers are continuing to spend

And initial jobless claims have officially completed a crazy round trip

And more longer term, TFP (essentially a measure of technology growth) may prove to be a strong tailwind 

The Mixed News

Profit margins are crazy high.. which probably can’t last for that much longer


The Bad News

We are possibly starting to see the first signs of margins being pressured

RIP Dollar Tree

Volatility spiked last Friday

And spreads are flattening

The State Of The Market

And because there always needs to be an immediate explanation, the drop on Friday was due to a new Covid strain

And was extended due to some uncertainty from Powell’s comments

And a suddenly hawkish Fed wouldn’t be ideal

But the recent increase in uncertainty surrounding the new Covid strain has also helped ease rate hike expectations

During any and all uncertainty recently, corporations and individuals have just consistently kept buying


And it seems like the ability of corporations to continue to do so (or pay out dividends) remains high

And on the individual side, it’s easy to be scared by this widely shared info

But context is also important.. just a lot of liquidity and demand out there

Charts Of The Week

Disclosure

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