<\/p>\n
![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/10\/Fastest-Tightening-Bianco-10.25-JL.png\")
Source: Bianco as of 10.25.2022<\/p>\n
<\/p>\n
John Luke<\/strong>: and the terminal rate keeps lifting<\/em><\/p>\n <\/p>\n \u00a0<\/em><\/p>\n <\/p>\n Dave<\/strong>: Consumer spending has recovered, though with nominal spending now way ahead of trend<\/em><\/p>\n <\/p>\n <\/p>\n <\/p>\n Beckham:<\/strong> but builders are immediately responding to the higher rates<\/em><\/p>\n \u00a0<\/strong><\/p>\n <\/p>\n <\/p>\n Mark<\/strong>: Reactions to earnings have been all over the board<\/em><\/p>\n <\/p>\n \u00a0<\/strong><\/p>\n \u00a0<\/em><\/p>\n <\/p>\n Brad:<\/strong> with energy and tech at opposite ends of the spectrum<\/em><\/p>\n <\/p>\n <\/p>\n <\/p>\n Dave:<\/strong> Markets have often fared poorly into midterms and better coming out<\/em><\/p>\n <\/p>\n <\/p>\n Source: Piper Sandler<\/p>\n <\/p>\n <\/p>\n Dave:<\/strong> and actual economic downturns in Year 3 of a Presidential cycle have totaled exactly zero in the past 60 years<\/em><\/p>\n \u00a0<\/em><\/p>\n <\/p>\n \u00a0<\/em><\/p>\n <\/p>\n John Luke: <\/strong>J<\/em>ust a wild chart, a different \u201cZero\u201d as it relates to China\u2026zero return in 30 years<\/em><\/p>\n <\/p>\n \u00a0<\/em><\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n Past performance is not indicative of future results. This material is not financial advice or an offer to sell any product. The information contained herein should not be considered a recommendation to purchase or sell any particular security. Forward looking statements cannot be guaranteed. Projections or other forward-looking statements regarding future financial performance of markets are only predictions and actual events or results may differ materially.<\/em><\/p>\n This commentary offers generalized research, not personalized investment advice. It is for informational purposes only and does not constitute a complete description of our investment services or performance. Nothing in this commentary should be interpreted to state or imply that past results are an indication of future investment returns. All investments involve risk and unless otherwise stated, are not guaranteed. Be sure to consult with an investment & tax professional before implementing any investment strategy. Investing involves risk. Principal loss is possible. <\/em><\/p>\n The S&P 500\u00ae Index is the Standard & Poor’s Composite Index and is widely regarded as a single gauge of large cap U.S. equities. It is market cap weighted and includes 500 leading companies, capturing approximately 80% coverage of available market capitalization.<\/em><\/p>\n Projections or other forward-looking statements regarding future financial performance of markets are only predictions and actual events or results may differ materially.\u00a0<\/em>\u00a0<\/em><\/p>\n Advisory services are offered through Aptus Capital Advisors, LLC, a Registered Investment Adviser registered with the Securities and Exchange Commission. Registration does not imply a certain level or skill or training. More information about the advisor, its investment strategies and objectives, is included in the <\/em>firm\u2019s Form ADV Part 2, which can be obtained, at no charge, by calling (251) 517-7198. Aptus Capital Advisors, LLC is headquartered in Fairhope, Alabama. ACA-2210-31.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and how they help fill the puzzle of evidence: John Luke: Fastest monetary tightening in decades Source: Bianco as of 10.25.2022 John Luke: and the terminal rate keeps lifting Source: Bianco […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","inline_featured_image":false,"footnotes":""},"categories":[20,194],"tags":[320,132,94,216,332,185,179,316,145,324],"class_list":["post-232549","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-consumer-spending","tag-earnings","tag-energy","tag-fed-funds","tag-funds","tag-housing","tag-markets","tag-rates","tag-recession","tag-terminal-rates"],"yoast_head":"\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/10\/Terminal-Fed-funds-reate_Bianco-10.21.22-JL.png\")
Source: Bianco as of 10.21.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/10\/Consumer-Spending-vs.-Trend-PSC-10.27-Dave.png\")
Source: PSC as of 10.27.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/10\/Housing-Stops-BlackRock-10.25.22-Beckham.png\")
Source: BlackRock as of 10.25.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/10\/Earnings-Reaction-Dispersion-Goldman-Sachs-10.27-Mark.png\")
Data as of 10.27.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/10\/Energy-to-Tech-Strategas-10.28-Brad.png\")
Source: Bloomberg data from Strategas as of 10.28.22<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/10\/Picture1.png\")
<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/10\/Recessions-in-Year-3-Dave.png\")
Source: Piper Sandler as of 10.19.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/10\/China-Zero-Return.jpg\")
<\/p>\nDisclosures<\/strong><\/h5>\n