May 17, 2023
Market Performance (YTD)
Source: YCharts
Disclaimer: Past performance is no guarantee of future performance
We have a 4-handle…Apr CPI was slightly cooler than expectations at 4.9% y/y vs. 5.0% est. Important piece is that Core Services ex-Shelter ("Supercore") was responsible for 1.26%, down from 1.40% last month. Pre-pandemic it was ~0.7%, more work to do, but promising. pic.twitter.com/HvYuh9wHmU
— Liz Young (@LizYoungStrat) May 10, 2023
🇺🇸 Here's the sequential breakdown of core CPI by main components. The slowdown in services and shelter inflation is likely to be eye-catching enough for the Fed to stop hiking under most scenarios. pic.twitter.com/tJFCXCuR97
— Frederik Ducrozet (@fwred) May 10, 2023
The Fed has recently been focused on "core services ex-housing" as a measure of underlying inflation. That measure barely rose in April, and has now fallen below traditional "core" inflation. pic.twitter.com/xW9PoEcD8v
— Ben Casselman (@bencasselman) May 10, 2023
US Atlanta Fed GDPNow Q2: 2.9% (prev 2.6%) https://t.co/xHsjMjmYKe pic.twitter.com/jnrlfZYzVI
— LiveSquawk (@LiveSquawk) May 17, 2023
Yields on one-month T-bills are about the highest since at least 2001 on debt-ceiling concerns: pic.twitter.com/Vc02k8xnE0
— Lisa Abramowicz (@lisaabramowicz1) May 16, 2023
The Empire State manufacturing survey plunged again in May, but it's been very volatile lately and so may be sending too downbeat a signal pic.twitter.com/ve2UlYIvUV
— MacroMarketsDaily (@macro_daily) May 15, 2023
Another chapter in the book … Chapter 22 bankruptcy filings (“repeat” bankruptcies) are piling up at fastest rate this year since 2009 per @BankruptcyData … note source line: data covers companies with $10M+ in liabilities
@Bloomberg pic.twitter.com/ZaYAqblx45— Liz Ann Sonders (@LizAnnSonders) May 11, 2023
It's hard to say whether the long secular bull market that began in '09 is already done or just late stage, but either way we could see a secular regime shift in which international equities outperform its US counterparts. If true that would be a big change from the past decade🧵 pic.twitter.com/f9ky8AO01D
— Jurrien Timmer (@TimmerFidelity) May 16, 2023
The same thing is true for emerging-markets (EM) equities. /END pic.twitter.com/IJfKAxnwI5
— Jurrien Timmer (@TimmerFidelity) May 16, 2023
This is a bit crazy but Apple's market cap now matches that of the Russell 2000, as in the entire Index. Somebody sent me this stat over the weekend and I did not believe it at first but alas it is true. I like weird stats like these … not sure how we resolve this? pic.twitter.com/4VkUeGsVLY
— Francois Trahan (@FrancoisTrahan) May 15, 2023
Disclosure
Clear Rock Advisors, LLC is registered with the SEC as a registered investment advisor with offices in Texas. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended and/or undertaken by Clear Rock Advisors, LLC) or any investment-related or financial planning consulting services will be profitable, equal any corresponding indicated historical performance level(s), or prove successful. It remains the client’s responsibility to advise Clear Rock Advisors, LLC, in writing, if there are any changes in the client’s personal/financial situation or investment objectives for the purpose of reviewing, evaluating or revising Clear Rock Advisors, LLC’s previous recommendations and/or services, or if the client would like to impose, add to, or modify any reasonable restrictions to Clear Rock Advisors, LLC’s services. A copy of Clear Rock Advisors, LLC’s current written disclosure statement discussing its advisory services and fees are available upon request.