Ed Yardeni

S&P 500’s Tug-of-War Between Investors & Industry Analysts

May 10, 2022 1 min read

The meltdown in forward P/Es continued yesterday, while forward earnings continued to scale new heights.

Ed Yardeni

Dr Ed's Weekly Webinar 5/9/22

May 9, 2022 1 min read

We concur with Fed Chair Powell that getting inflation back to Earth needn’t crash our strong, liquid economy. The Bond Vigilantes aren’t as far behind the inflation curve as the Fed:

Ed Yardeni

A Short-Lived P/E-Led Bear Market?

May 8, 2022 2 min read

Are we heading toward a P/E-led bear market even though earnings continue to grow?

Ed Yardeni

More Air Coming Out Of Valuation Multiples

May 7, 2022 2 min read

The air continued to come out of stock valuation multiples this past week. It has mostly been coming out of the S&P 500 Growth index’s MegaCap-8—i.e., Alphabet, Amazon, Apple, Meta, Microsoft, Netflix, Nvidia, and Tesla. Consider the following:

Ed Yardeni

DEEP DIVE: Inflation Tends To Be Spikey

May 7, 2022 3 min read paid

Why is the 10-year Treasury bond yield only around 3.00% when the latest headline CPI and PCED inflation rates were 8.5% y/y and 6.6% y/y? Why would bond investors willingly lock in such a painful negative real return?

Ed Yardeni

Inflation Showing First Signs of Peaking

May 6, 2022 2 min read paid

We are on the lookout for signs that inflation might be peaking. It’s hard to find any when we look at the price and wage data on a y/y basis. However, there are hopeful signs in numerous 3-month percent changes at annual rates. Consider the following:

Ed Yardeni

The S&P 500 Remains In a Correction

May 5, 2022 1 min read

“Ugly” is the only way to describe today’s stock market selloff. The S&P 500 is down 13.5% ytd since it set a record high on January 3. So it’s still in correction territory. It dropped 3.6% today, but that was after a 3.0% jump the day before.

Ed Yardeni

Some Bad & Good News On Unit Labor Costs

May 5, 2022 1 min read

Contributing to the stock market selloff today was more bad news on the inflation front. Nonfarm business (NFB) productivity dropped 7.5% (saar) during Q1. It wasn’t as bad on a y/y basis, falling just 0.6%. It’s a very volatile series on a q/q basis and even on a y/y basis.

Ed Yardeni

China’s Economic Challenges

May 5, 2022 2 min read paid

Ed Yardeni
Stephen Rybka

Bull/Bear Ratio Remains Depressed

May 4, 2022 1 min read paid

Ed Yardeni

Is the Worst Over For Bonds?

May 3, 2022 1 min read

We are keeping an eye on the Citibank Economic Surprise Index (ESI), which is highly correlated with the 13-week change in the 10-year US Treasury bond yield. The ESI measures the degree to which economic data are either beating or missing expectations.

Ed Yardeni

Industry Analysts Bullish on S&P 500 Revenues

May 2, 2022 1 min read paid

Ed Yardeni

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