Presented by Matt Glova and the LifeTime Asset Management team:
Weekly Market Update, August 28, 2023
Existing home sales, a major component of overall inflation, fell more than expected in July. Despite worsening economic data in home sales, durable goods, and confidence, consumer inflation expectations rose. Equity investors flocked to growth stocks, not only due to the potential for rates to be done, but also for a large cash buffer that many hold on their balance sheets. The Jackson Hole speech offered significantly fewer surprises than last year for fixed income markets.
Weekly Market Update, August 21, 2023
Retail sales increased more than expected which, should it continue, will provide broader support for economic activity and growth. FOMC meeting minutes showed the committee isn’t counting out additional rate hikes if they become necessary. Equity investors took a risk-off approach amid elevated concerns related to FOMC rate hikes and Chinese property developers. Weak Treasury auctions sent intermediate- and long-term bond yields higher.
Weekly Market Update, August 14, 2023
Consumer credit expanded after a lull in May and moved toward a more normalized levels. Consumer and producer inflation both increased modestly on a year-over-year basis. Equity investors continue to digest the meaning of peak rates and current valuation levels. Weak Treasury auctions sent intermediate and long-term bond yields higher.
Weekly Market Update, August 7, 2023
The difference in strength between the manufacturing and service sector remains in place. Despite lower-than-expected July job growth, both openings and wages remained strong. Equity investors took a breather from the recent risk-on rally. Fitch downgraded the country’s long-term U.S. credit rating on rising debt levels.
Monthly Market Update, July 31, 2023
This monthly commentary hits on these key topics:
1. Solid July for Markets
2. Continued Challenges for Fixed Income
3. Economic Growth Beats Expectations
4. Market Risks Fading
5. Strong Economy Supports Positive Outlook