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Five In Five

December 2024

Five in Five is a monthly publication where we share graphs around five topics that illustrate the current state of the markets, with brief commentary that can be absorbed in five minutes or less.


This month's topics include:

  1. Treasury Yields
  2. Reaction Functions 
  3. Small Cap Rally Typical Post-elections
  4. Mag 7 Outperforming Post-election
  5. Housing Starts Continues Its Decline

1. Treasury Yields

Five in Five_Treasury Yield

Source: BTC Capital Management, Bloomberg



2. Reaction Functions

Five in Five_Christoper Waller

Source: Federal Reserve Board

Federal Reserve Governor, Christopher Waller

On December 2, 2024, Waller spoke at the American Institute for Economic Research Monetary Conference.

“The motivation for continuing to cut the policy rate at the FOMC’s next meeting begins with how restrictive the current setting is. After we cut by 75 basis points, I believe the evidence is strong that policy continues to be significantly restrictive and that cutting again will only mean that we aren’t pressing on the brake pedal quite as hard.”



3. Small Cap Rally Typical Post-elections

Five in Five_Small Cap
Source: BTC Capital Management, FactSet


4. Mag 7 Outperforming Post-election
 

Five in Five_MAG 7
Source: BTC Capital Management, FactSet



5. Housing Starts Continues Its Decline

Five in Five_Housing
Source: BTC Capital Management, FactSet



Investment products and services may lose value, are not a deposit, are not guaranteed by any financial institution, and are not FDIC insured or insured by any government agency.


Source: BTC Capital Management, Bloomberg, Federal Reserve Board, FactSet.

The information provided has been obtained from sources deemed reliable, but BTC Capital Management and its affiliates cannot guarantee accuracy. Past performance is not a guarantee of future returns. Performance over periods exceeding 12 months has been annualized. This document is intended for informational purposes only and is not an offer or solicitation with respect to the purchase or sale of any security. Statements in this report are based on the views of BTC Capital Management and on information available at the time this report was prepared. Rates are subject to change based on market and/or other conditions without notice. This commentary contains no investment recommendations and you should not interpret the statement in this report as investment, tax, legal, and/or financial planning advice. All investments involve risk, including the possible loss of principal. Investments are not FDIC insured and may lose value.

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