CSML News and Press, IQ Chaikin U.S. Small Cap ETF From 12/21/22

Summary The S&P 500 is down just over 20% since January 4th and a seasonally unusual -6.4% month to date. Sentiment reports may appear bearish, but equity positioning, especially in household portfolios, remains (as shown below in yellow) near the secular peaks of 1966, 2000 and 202...

Summary MarketCap/GVA is our most reliable valuation gauge in market cycles across history, including recent decades. To expect a large positive outlier over the coming years is to rely on bubble valuations to prevail at the end of the holding period. Interest rates are nowhere near...

Summary The credit cycle and the economic cycle are excellent leading indicators of volatility. Both are likely to continue deteriorating in the months ahead. As such, expect high stock market volatility to be a mainstay for 2023. High Volatility Set To Continue Eq...

Summary The top two mega themes in terms of global net inflows in 2022 were Climate Change-related themes and Big Data. The largest net outflows came from tech-heavy themes, led by Robotics & Automation. 2023 may bring a return to more normal markets driven by economics rather t...

Summary U.S. debt levels are more than twice as high today as they were during the economy of the late 1970s and early 1980s. In 2022, the Fed raised rates by 425bps, the biggest policy tightening in a single year since 1981. The Fed Funds Futures curve suggests that the Fed will ti...

Summary Inflation continues to moderate, not only here, but also in Europe. Despite the negative economic reports and the reaction to the Fed rate hike, the US Dollar barely budged for the week. Value yet again outperformed Growth in the last week, this time by a spread of almost 1%...

Summary Indices paint an erroneous picture of market health. Market breadth indicators show that there is underlying strength in smaller cap stocks. Find the stocks that are outperforming right now - these will likely lead the market higher when the next bull market inevitably comes...

Summary CPI rose only 0.1% in November and 7.1% in the past 12 months. The monthly CPI was lower than the economists’ consensus expectation of 0.3%, and that triggered a massive bond rally that caused Treasury yields to plummet. The Fed never fights market rates, so even thou...

Summary After a week that saw it rise as high as 4,019.65, the S&P 500 ultimately dropped 2.8% from where it ended the previous week to close at 3,852.36 on Friday. After the Fed's expected half-point rate hike on 14 December 2022, news indicating developing weakness for the U.S. ec...

Summary MoneyTalk’s Greg Bonnell discusses what it means for the economy with Chris Whelan, Senior Canada Rates Strategist at TD Securities. The markets are bracing for what's probably not going to be a wonderful 2023 economically. The market is telling that long-term interes...