Last week was a challenging one for stocks as incoming macro data pointed to continued inflationary pressures and an erosion of consumer confidence. CPI data was released on Wednesday and showed core inflation accelerating to +0.6% sequentially in April, after it had slowed to just +0.3% m/m in March. On a y/y basis, headline CPI […]
Stocks and bonds moved lower last week in choppy trading after the Fed enacted the first 50bp rate hike in more than 20 years (May of 2000 was the last one). The market’s initial reaction was positive, as investors expressed relief that a 75bp hike appeared to be off the table for the June meeting, […]
Risk assets struggled last week in the face of numerous challenges, including high inflation, slowing economic growth, and the war in Ukraine. Inflation remains front and center on most investors’ minds, with personal incomes for US consumers rising 0.5% in March (+6.2% annualized) while February’s figure was revised higher to +0.7% (+8.7% annualized), both above […]
Bit of a roller coaster last week as inflation fears returned to the foreground. Things calmed down a little bit on Friday, allowing stocks to recoup some of their losses.