Insights

November 22, 2022

Moving to the phase where bad news becomes good news

The likelihood of the delivery of sustained disinflation in 2023
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November 22, 2022

Unpacking the drivers behind the deteriorating US EPS growth trajectory

The second half of 2023 has seen the 2023 EPS growth rate forecast start to decline
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November 4, 2022

Differentiating bear market rallies vs meaningful inflection points

Bear markets are not linear – they typically witness numerous rallies
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November 3, 2022

October saw US equities rally on speculation the Fed might change tack

The FT Wilshire 5000 rallies 8.2% in October
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October 22, 2022

The scale of the de-rating has pushed PEs back to Covid lows

Scale of the drawdown in global equities in 2022 has produced a significant de-rating with US equites experiencing one of the largest PE contractions
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October 22, 2022

Perspectives on the bear market – how long will sentiment languish at historic lows?

The FT Wilshire 5000 has experienced a technical bear market in 2022 (defined as at least a -20% drawdown)
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October 5, 2022

Q3 witnessed a dramatic "U-turn" in risk appetite

The rapid reversal in risk appetite in Q3 has produced a retest of the June lows
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October 5, 2022

The surge in the dollar is creating market distortions

A key feature of 2022 has been the sustained strength of the US dollar
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September 27, 2022

August was a month of two halves for FT Wilshire 5000 return delivery

Hawkish Fed guidance sends FT Wilshire 5000 into reverse gear in August
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September 27, 2022

Risk aversion being driven by tightening financial conditions

Markets have been gripped by risk aversion since mid-August
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September 27, 2022

US EPS cycle starting to wobble

After a period of relative stability, we are starting to see a deterioration in the EPS or profit cycle through the prism of estimate trail analysis
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September 6, 2022

The FT Wilshire 5000 continues to deliver strong long term real returns

Equities are a long duration asset class and returns should be viewed via the prism of long-time horizons
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