Our cartoonist Bob Rich captures the tenor on Wall Street every weekday in Hedgeye's widely-acclaimed Cartoon of the Day. Below are his five latest cartoons. We hope you enjoy his humor and wit as filtered through Hedgeye's market insights. (Click here to receive our daily cartoon for free.)
1. Projections (8/19/2016)
Fed projections are all rainbows, puppy dogs and ... bunnies.
2. All Aboard? (8/18/2016)
Did you buy the all-time highs in U.S. equity markets?
3. Yield (8/17/2016)
In the past year, other than the U.K.'s FTSE, European equity market drawdowns range from the German DAX's -3% to -29% for Italy's FTSE MIB.
4. The Financial Market Olympics (8/16/2016)
- Total equity market volume was down -7% versus its 1-month average yesterday
- Gold is up +25% year-to-date
- Global growth continues to slow
- The best efforts of central bankers have failed to stimulate global economic growth
- The earnings recession continues (for Q2 2016, 458/500 S&P 500 companies have reported an aggregate earnings decline of -4.1%)
- Oil prices continue to fall on bearish fundamentals (and pop on OPEC oil production freeze rumors)
5. Devalued (8/15/2016)
The pound has lost -12.6% of it's value (against the U.S. dollar) year-to-date as U.K. growth has slowed.
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