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September/October 2022, Columns |
December 2022

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Forté Capital’s Selected Statistics

U.S. Treasury Yield Curve

This chart illustrates the impact of Federal Reserve monetary policy, which is aimed at bringing inflation to heel. With no inflection in the direction of PPI and CPI, the central bank has signaled it will continue raising rates and selling bonds to take back liquidity and try to break the upward trend in prices.

U.S. & World Equity Indexes; 10/18/22; YTD Return S&P 500; 3,719; -21.95% Dow Jones Industrials; 30,523; -16.00% Nasdaq Composite; 10,772; -31.14% Shanghai Composite (China); 3,080; -15.35% S&P BSE Sensex (India); 58,960; 1.21% Nikkei Stock Avg (Japan); 27,056; -5.68% CAC 40 (France); 6,067; -15.18% DAX (Germany); 12,765; -19.64% FTSE 100 (U.K.); 6,936; -6.06%
Selected Interest Rates; 10/18/22; Prior Period 15-Year Mortgage; 6.09%; 4.26% 30-Year Mortgage; 6.92%; 4.99% 5-Year Treasury Bond; 4.21%; 2.97% 10-Year Treasury Bond; 4.01%; 2.80% 30-Year Treasury Bond; 4.04%; 3.01%
Key Economic Statistics; Most Recent; Prior Period National Producer Price Index; 0.40%; -0.10% Consumer Price Index; 0.40%; 0.10% Unemployment Rate; 3.50%; 3.50% ISM Manufacturing Index; 50.90; 52.80 ISM Services Index; 56.70; 56.90 Change in Non-farm Payroll Emp.; 263,000; 315,000 New York State Consumer Price Index - NY, NJ, CT; -0.20%; -0.30% Unemployment Rate; 4.70%; 4.30% Empire State Manufacturing Survey; -9.10%; -1.10%

ISM Manufacturing Index

The data on manufacturing activity indicate it is declining and is expected to continue to do so into 2023, consistent with a recession. With the EU now in recession, supply chain issues, inflation, and tightening monetary policy, it will be very difficult to avoid further shrinkage in gross domestic product (GDP).

Equity Market Statistics; Most Recent; Prior Period Dow Jones Industrials; 10/18/22; 8/15/22 Dividend Yield; 2.43%; 2.12% Price/Earnings (12-Mth Trailing); 16.51; 19.38 Price/Earnings (Projected); 15.34; 17.47 S&P 500 Index; 10/18/22; 8/15/22 Dividend Yield; 1.88%; 1.60% Price/Earnings (12-Mth Trailing); 19.69; 22.89; Price/Earnings (Projected); 15.39; 17.80

The information herein was obtained from various sources believed to be accurate; however, Forté Capital does not guarantee its accuracy or completeness. This report was prepared for general information purposes only. Neither the information nor any opinion expressed constitutes an offer to buy or sell any securities, options, or futures contracts. Forté Capital’s Proprietary Market Risk Barometer is a summary of 30 indicators and is copyrighted by Forté Capital LLC. For further information, visit www.fortecapital.com, send a message to info@forte-capital.com, or call 866-586-8100 and ask for David W. Henion, CPA, or Larry H. Rabinowitz, CPA/PFS.

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