Cash attractiveness may have peaked in 2023
Cash was an attractive, safe asset last year amid elevated rates. This week’s chart looks at why the tide may be changing.
![](https://fsinvestments.com/wp-content/uploads/2024/01/COTW_2024-01-26_thumbnail-247px.jpg?w=250&h=150&crop=1)
Will a rate-dependent equity market become a headwind?
Could last year’s market tailwind turn into this year’s headwind? This week’s chart looks at stocks and rates’ tandem moves over the past year.
![](https://fsinvestments.com/wp-content/uploads/2024/01/COTW_20240119_thumbnail-247px.jpg?w=250&h=150&crop=1)
Equity market to remain rate dependent in 2024?
This week’s chart finds the bulk of the S&P’s returns last year came on days when rates fell. So far, 2024 has followed a similar pattern.
![](https://fsinvestments.com/wp-content/uploads/2024/01/COTW_2024-01-12_thumbnail-247px.jpg?w=250&h=150&crop=1)
Stock-bond correlation hits multi-decade high
Stock-bond correlation spiked in 2023 to a 40-year high. This week’s chart looks at how it exacerbates the diversification challenge.
![](https://fsinvestments.com/wp-content/uploads/2024/01/COTW_2024-01-05_thumbnail-247px.jpg?w=250&h=150&crop=1)
Private CRE debt offers a hefty yield premium to cash
This week’s chart looks at private CRE debt’s notable yield premium to cash, even as cash yields are elevated.
![](https://fsinvestments.com/wp-content/uploads/2023/12/COTW_2023-12-15_thumbnail-247px.jpg?w=250&h=150&crop=1)
Markets pricing in too much Fed easing?
Is the market expecting too much from the Fed? This week’s chart looks at the dramatic decline in market-based rate expectations.
![](https://fsinvestments.com/wp-content/uploads/2023/12/COTW_2023-12-08_thumbnail-247px.jpg?w=250&h=150&crop=1)