Chart of the Month

2019

January

Signs of a Market Bottom

July

Fed Funds Rate – Reversal of Misfortune

February

Longest Weekly Winning Streak Since 1995

August

Positives and Negatives of Government Bond Yields

March

Longest Bull Markets and Economic Expansions Since World War II

September

Article Title

April

GDP and LEI Point to Further Economic Growth

October

Article Title

May

No Misery in the Misery Index

November

Article Title

June

75th Anniversary of D-Day

December

Article Title

2018
January Strong Start to New Year	July Fixed-Income Strategy
February Market’s Emotional Roller Coaster	August Strong Earnings, Strong Stock Market
March Inflation and Price-Earnings Multiples	September The Real Fed Funds Rate and Recessions
April Leading Economic Index Points to Robust Growth	October Stock Market Volatility Returns
May 10-Year Annualized Rolling Returns	November Bull Market Corrections
June Household Wealth Tops $100 Trillion	December Maintaining Perspective

Previous Years

2017
January Small Business and Consumer Optimism	July Fourth-Longest Streak Without a 5% Correction
February S&P 500 Price vs. EPS	August Longest Economic Expansions in History
March The Federal Reserve’s Balance Sheet	September Housing Prices Exceed Previous Peak
April Government Shutdowns	October Second-Longest Bull Market Since WWII
May Seasonal Trading Patterns	November Historical Yield Curve Averages and Recessions
June The Fed Weighs in on the Stock Market	December A Record-Setting Year

2016
January The Worst 10-Day Start Ever	July Cruising to New Highs
February Global Stock Markets	August Presidential Election Cycles
March Strong and Improving Household Finances	September Unemployment Rate and Wage Growth
April Record Low Ownership of Stocks and Homes	October Stock Market Valuation
May 10-Year U.S. Treasury Yield	November Corporate Income Tax Rates
June Treasury Yield Spreads as a Forecasting Tool	December Dow Closes In On 20,000

2015
January Apple’s Record Results	July Narrowest Trading Range Ever
February Recoveries and Expansions	August Real GDP Growth
March The Rule of 72	September Stock Market Corrections
April Distribution of Federal Income Taxes	October Correlation Between Stocks and Earnings
May Historical Impacts of Rate Increases	November Link Between Stocks and GDP
June Bull Markets and Economic Expansions	December The Force Awakens

2014
January Stay Long	July Upward and Onward
February Consumer Confidence	August Rolling 10-Year Returns
March Out of Africa	September Fed Funds Rates
April Leading Economic Indicators	October Channel Surfing
May Fed Tightening	November Mid-Term Elections
June Inflation & Unemployment	December Oil Prices

2013
January The Next Leg	July Treasury Spreads
February The 16th Amendment	August Misery Index
March Higher Highs, Higher Lows	September Monthly Returns
April Stocks vs. Gold	October Corporate Profits
May Government Finances	November Earnings Yield
June Central Bank Assets	December Stealth Bull Market

2012
January Apple’s Growing Cash	July The Big Four
February Real Estate	August Stock Swaps
March S&P 500 vs. Gold	September S&P and QE
April The “Buffett Rule”	October Presidential Election
May Dividend Aristocrats	November Tax Rates
June Dividend Strategy	December Fiscal Drag

2011
January Employment Report	July Budget Deficit
February S&P 500 P/E & EPS	August Square Root Economy
March U.S. Treasury Yields	September Buy Low, Sell High
April Stocks and Bonds	October Best Months Ever
May Goldilocks Economy	November Rolling 10-Year Returns
June The Case for Apple	December Contrarian Indicators

5305 East 2nd Street, Suite 201, Long Beach, California 90803
Tel: 562-434-5305 ▲ Fax: 562-434-5306
lederer-associates.com