Housing Halt

Housing Halt

  This week’s chart looks at mortgage rates and how their sharp rise this year has led mortgage applications to drop to their lowest level since 1997. Specifically, the top half of the chart shows the average rate for a 30-year fixed mortgage, going back to the...
Estimating Earnings

Estimating Earnings

  Third quarter earnings season is upon us. So, for this week’s featured chart, we show the consensus estimates for year-over-year growth in S&P 500 reported earnings per share by calendar year. The two lines I want to focus on are the light blue and orange...
Speed Kills

Speed Kills

  For this week’s featured chart, we want to highlight a theme that’s dominated the stock market this year. It has to do with the Fed, its rate-hiking cycle, and how that affects stock market returns. The chart shows that, historically, the speed at which the Fed...
Shedding a Few Pounds

Shedding a Few Pounds

  The British pound—the currency of the United Kingdom—was the star of the show of the financial world this week. It made the news because the leaders of the U.K.’s new government laid out a plan to cut taxes and pay for it by borrowing roughly £45 billion over...
Fun With the Fed

Fun With the Fed

  The Federal Reserve held its sixth FOMC meeting this week. One interesting thing to note from the meeting was that the Fed continued to raise its forecast for the fed funds terminal rate. Shown on the chart above, the terminal rate is the peak spot where the...