<\/p>\n
![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/07\/Forward-Returns-VIX-Strategas-07.24-JL-1.png\")
Source: Strategas as of 07.24.2023<\/p>\n
<\/p>\n
Beckham:<\/strong> but for those looking to participate in equities, it\u2019s been some time since hedges could be purchased at prices this cheap<\/em><\/p>\n <\/p>\n <\/p>\n John Luke:<\/strong> Inflation has fallen sharply across all segments<\/em><\/p>\n \u00a0<\/em><\/p>\n <\/p>\n Dave:<\/strong> mirroring the drop in pace of consumer spending<\/em><\/p>\n <\/p>\n <\/p>\n John Luke:<\/strong> and markets are becoming confident that this week was the last hike<\/em><\/p>\n <\/p>\n <\/p>\n Brad:<\/strong> But are commodities signaling that the fall in prices may be reaching its limit?<\/em><\/p>\n <\/p>\n <\/p>\n John Luke:<\/strong> US corporations played the interest rate cycle just as well as US homeowners<\/em><\/p>\n <\/p>\n \u00a0<\/em><\/p>\n John Luke:<\/strong> and based on the chart below, they\u2019ve also reduced their share of government tax receipts over the past decade<\/em><\/p>\n <\/p>\n \u00a0<\/em><\/p>\n Dave:<\/strong> Communications and technology are generating the lion\u2019s share of upside earnings surprises<\/em><\/p>\n \u00a0<\/em>\u00a0<\/strong><\/p>\n <\/p>\n Dave:<\/strong> helping overall earnings bottom in recent months<\/em><\/p>\n \u00a0<\/strong>\u00a0<\/em><\/p>\n <\/p>\n Joseph:<\/strong> If conditions have indeed improved, it\u2019s not a secret anymore <\/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.<\/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.<\/em>\u00a0<\/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>\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 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-2307-32.<\/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: John Luke: VIX has fallen into lower levels indicating complacency, but that hasn\u2019t historically led to weaker returns Source: Strategas as of 07.24.2023 […]<\/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":[320,132,275,504,83,179,377,223],"class_list":["post-234205","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-consumer-spending","tag-earnings","tag-equities","tag-homeowners","tag-inflation","tag-markets","tag-tech","tag-vix"],"yoast_head":"\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/07\/Cheap-Hedges-Market-Ear-07.21-Beckham.png\")
Source: BofA via Market Ear as of 07.24.2023<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/07\/Inflation-Measure-Falling-FT-07.26-JL.png\")
Data as of 07.24.2023<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/07\/Consumer-Spending-Drop-RJ-07.27-Dave.png\")
Source: Raymond James as of 07.27.2023<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/07\/Done-With-Hikes-Bberg-07.27-JL.png\")
Data as of 07.26.2023<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/07\/Commodity-Low-RJ-07.24-Brad.png\")
Data as of 07.24.2023<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/07\/Corporate-Interest-Payments-Bberg-07.25-JL.png\")
Data as of 07.24.2023<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/07\/Personal-Income-Taxes-Alpine-07.24-JL.png\")
Data as of 07.24.2023<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/07\/Earnings-Bouncing-Strategas-07.24-Dave.png\")
Source: Strategas as of 07.27.2023<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/07\/Earnings-Low-Strategas-07.24-Dave-.png\")
Source: Strategas as of 07.24.2023<\/p>\n![\"\"](\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/07\/Sentiment-Running-Hot-Strategas-07.24-Dave.png\")
Source: Strategas as of 07.24.2023<\/p>\nDisclosures<\/strong><\/h5>\n