Last Thursday was an incredible day for virtually all markets. That is when the CPI report was released, and inflation came in a bit lighter than expected which in turn lit a fire under the bond and stock markets. The NASDAQ was up by more than 7%,
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Although the hawkish Fed has made it more challenging for many businesses in the United States, it has also resulted in some beneficiaries. One is just plain old savers who, during Covid, essentially earned 0% on their idle savings. With the Fed aggressively raising short-term rates,
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I was traveling internationally last week for some meetings in London as well as a side visit to Paris prior to Chunneling it to London. While I was hoping to discuss Paris this week, given limited time and the market’s reaction to last week’s CPI report,
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The value of a country’s currency is a good barometer of its economic policies, human capital, competitiveness, freedoms, growth prospects, etc. From this chart, one can see that Great Britain has been on a long decline from a competitiveness standpoint versus the United States.
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Last week the Fed raised short-term interest rates by 0.75%. This was entirely expected by the market. Given that this was already priced in, it stands to reason that the only source of new information would be what the Fed would communicate in its statement that’s released in conjunction with announcing the interest rate hike along with Chairman Jay Powell’s press conference.
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Gary Carmell
Posted in Economy, Housing, Interest Rates, Investing, News, Real Estate
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The evidence seems to be increasingly persuasive that economic growth is slowing materially. This is from the Economic Cycle Research Institute, which has a good track record of identifying turns in the business cycle. Its Weekly Leading Index is clearly showing a negative growth rate.
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Yeah, now the workforce is disgusted, downs tools, walks
Innocence is injured, experience just talks
Everyone seeks damages, everyone agrees that
These are classic symptoms of a monetary squeeze
On ITV and BBC they talk about the curse
Philosophy is useless,
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The Supreme Court’s decision to overturn Roe vs Wade understandably elicited a huge wave of outcry (pro and con). One of the most controversial aspects of the decision was the seeming disregard for Court precedent and how it was perceived by legal experts to have been tossed aside.
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Gary Carmell
Posted in Apartments, COVID 19, Economy, Housing, Interest Rates, News, Stock Market
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Last week was brutal for retailers as major earnings announcements showed how they have been hit very hard by huge cost increases. Wal-Mart started the week off shocking the market with its very weak earnings outlook and then there was Target.
Its stock price got absolutely crushed in the wake of its results being released.
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There are things you can replace
And others you cannot
The time has come to weigh those things
This space is gettin’ hot
You know this space is gettin’
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