Chart of the Week
"Despite these differences in policy approach, neither Trump or Biden seem interested in reducing the budget deficit. That should result in a higher term premium and higher interest rates, which...
Chart of the Week
Last Tuesday’s CPI report shifted consensus for the first rate cut into H2, and for two fewer cuts over the next year. The change came after a series of strong economic reports began eliminating the...
Chart of the Week
Fed easing is a matter of timing and NDR’s historical studies show yields have always declined in the 3-months before the first rate cut. But most clients take a more holistic view, whether it be a...
Chart of the Week
The 20% rally off the October lows has pushed already elevated traditional valuation metrics even higher. The S&P 500 Index is trading at 22.8 times trailing operating earnings, the highest since...
Chart of the Week
NDR’s S&P 500 vs. Daily Trading Sentiment Composite that we know as ‘DAVIS265’
Chart of the Week
We picked up an interesting factoid from our strategists this morning - U.S. stocks have never rallied more than 11% in the three months leading up to the first FED rate cut. But after the rate cut,...
Chart of the Week
This NDR chart, % Of Stocks Above MAs (5 to 252), that we refer to as DAVIS 275, plots the percentage of stocks, for five equity indexes, trading above their moving averages ranging from five to 252...
Chart of the Week
At NDR we take a 360° degree look at factors impacting stocks. Our founder Ned Davis currently rates the tape and momentum as positive. Monetary and macro seem hopeful, given Fed tightening looks...
Chart of the Week
Global services activity continued to grow at a snail’s pace in November, as the PMI crept up 0.2 points to 50.6, well below an average of 55 in Q2 of this year and the long-term average of 53.6....
Chart of the Week
The consumer delinquency rate jumped 16 basis points, the most since Q2 2009, to 2.53% -- the highest since Q1 2013. It was the eighth straight quarterly rise. Clearly some consumers are struggling...
