Presented by Matt Glova and the LifeTime Asset Management team:
Weekly Market Update, June 27, 2022
After the Federal Open Market Committee (FOMC) raised the federal funds rate 75 basis points (bps) at its June meeting, Federal Reserve (Fed) Chair Jerome Powell testified to Congress on the state and development of the U.S. economy. Last week was quiet in terms of hard economic data and we saw small hints of easing inflation. Markets bounced back from the worst week of selling since March of 2020, largely prompted by modestly lower commodity prices amid the expectation that demand will soften.
Weekly Market Update, June 21, 2022
The Federal Open Market Committee (FOMC) announced a 75 basis point (bp) hike in the federal funds rate after its most recent meeting. This is the base rate’s largest increase since 1994 and brings the Federal Reserve (Fed)’s target range between 1.5 and 1.75 percent. Global equity markets had their worst week since March of 2020. Cyclicals sold off heavily as investors took a risk-off approach led by a sharp decline in the energy sector.
Weekly Market Update, June 13, 2022
The U.S. Department of Labor released its May inflation numbers last Friday. The Consumer Price Index (CPI) report showed that inflation increased 8.6 percent year-over-year, coming in above analyst expectations for an 8.3 percent increase. Global equity markets sold off as a higher-than-expected inflation report on Friday led to added concerns about persistent inflation and the need for more aggressive actions from global central banks.