<\/p>\n
![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/12\/Earnings-Estimate-Progression-PSC-12.12-Dave.png\")
Source: PSC as of 12.12.2022<\/p>\n
<\/p>\n
Joseph:<\/strong> with the range of possibilities widening, mostly to the downside<\/em><\/p>\n <\/p>\n <\/p>\n JL:<\/strong> and margins the big wild card<\/em><\/p>\n <\/p>\n <\/p>\n JL:<\/strong> Monday was a really unusual day, and it turned out the VIX was more right than stocks<\/em><\/p>\n \u00a0<\/em><\/p>\n <\/p>\n Dave:<\/strong> Speaking of odd behavior, seeing inflows to an asset class during a time of poor performance is quite unusual<\/em><\/p>\n <\/p>\n <\/p>\n JL:<\/strong> Fed talk starting to split apart from market expectations<\/em><\/p>\n <\/p>\n <\/p>\n <\/p>\n JL:<\/strong> with many pundits expecting a highly unusual market low long before curve inversion has peaked<\/em><\/p>\n <\/p>\n \u00a0<\/em><\/p>\n <\/p>\n Joseph:<\/strong> Exploration and Production continues to run at low levels<\/em><\/p>\n <\/p>\n <\/p>\n Joseph:<\/strong> as energy companies invest in dividends and buybacks vs. capital investments<\/em><\/p>\n <\/p>\n <\/p>\n <\/p>\n JL:<\/strong> Rates may not be done rising, but at least you finally have some yield to compensate against possible price depreciation<\/em><\/p>\n <\/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.<\/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 Russell 1000\u00ae Growth Index is an unmanaged, market capitalization-weighted index that measures the performance of those companies in the Russell 1000 Index with higher price-to-book ratios and higher forecasted growth values.<\/em><\/p>\n The Bloomberg Barclays US Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government related and corporate securities, MBS (agency fixed-rate pass-throughs), ABS and CMBS (agency and non-agency).<\/em><\/p>\n The content and\/or when a page is marked \u201cAdvisor Use Only\u201d or \u201cFor Institutional Use\u201d, the content is only intended for financial advisors, consultants, or existing and prospective institutional investors of Aptus. These materials have not been written or approved for a retail audience or use in mind and should not be distributed to retail investors.\u00a0 Any distribution to retail investors by a registered investment adviser may violate the new Marketing Rule under the Investment Advisers Act.\u00a0 If you choose to utilize or cite material we recommend the citation, be presented in context, with similar footnotes in the material and appropriate sourcing to Aptus and\/or any other author or source references. This is notwithstanding any considerations or customizations with regards to your operations, based on your own compliance process, and compliance review with the marketing rule effective November 4, 2022.<\/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 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-2212-23.<\/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 the way they fit the unfolding puzzle of evidence: Dave: Earnings estimates held up into Q3 but are starting to fall at a decent clip Source: PSC as of 12.12.2022 Joseph: […]<\/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":[132,94,57,363,316,223],"class_list":["post-232826","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-earnings","tag-energy","tag-fed","tag-margins","tag-rates","tag-vix"],"yoast_head":"\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/12\/Earnings-Possibilities-RJ-12.09-Joseph.png\")
Data as of 12.09.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/12\/Net-Margins-Morgan-Stanley-12.12-JL.png\")
Data as of 12.12.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/12\/Tuesday-was-Unusual-Strategas-12.13-JL.png\")
Source: Strategas as of 12.13.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/12\/Flows-and-Performance.png\")
Source: Strategas as of 12.05.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/12\/Market-vs.-Fed-Bianco-12.15-JL.png\")
Source: Bianco as of 12.14.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/12\/Inversions-and-Bottoms-Lyn-Alden-12.13-JL.png\")
Source: Lyn Alden as of 12.13.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/12\/E-and-P-Reinvestment-RJ-12.12-Joseph.png\")
Data as of 12.12.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/12\/Energy-Capital-Allocation-Evaluate-Energy-11.30-Joseph.png\")
Data as of 09.30.2022<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2022\/12\/Yields-at-Given-Rate-Moves-DoubleLine-11.30-JL.png\")
<\/p>\nDisclosures<\/strong><\/h5>\n