Continued Disinflation + Context-Producing Stock Market Charts

Each week, the Stokes Family Office staff puts together a list of our favorite news and updates on financial planning, portfolio construction, tax and estate planning, retirement plan services and/or anything we found interesting. Enjoy this week’s curated list for your weekend reading!

📙 M2 UPDATE: CONTINUED DISINFLATION

Scott Grannis | Calafia Beach Pundit

Chart #3 compares the growth of M2 with the rate of consumer price inflation. I’ve shifted the CPI line one year to the left, to show that it took about one year for the huge increase in M2 to find its way into the inflation statistics. The chart further suggests that since M2 growth has been declining for well over one year, CPI inflation is likely to continue falling for at least the next 3-6 months and could potentially reach zero. In my previous post I argued that inflation has effectively fallen to the Fed’s target zone already.
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📘 11 STOCK MARKET CHARTS THAT OFFER MUCH NEEDED CONTEXT

Sam Ro | Tker

Stocks fell last week, with the S&P 500 shedding 2.4% to close at 4,224.16, the lowest level since June 1. The index is now up 10% year to date, up 18.1% from its October 12, 2022 closing low of 3,577.03, and down 11.9% from its January 3, 2022 record closing high of 4,796.56. There seems to be a lot on investors’ minds lately. Fortunately, there are also lots of really smart people sharing charts that help contextualize all these issues. Below are a few that were circulating over the past week.

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Want to hear more from our team? Check out the Lagniappe Podcast. 

Have a great weekend!