Market In Review 35/2022
Stocks got hammered on Friday with a weak PCE Index and hawkish Fed head. I said during the week that Powell was unlikely to go against his peers and suggest a more accommodative policy stance.
Market In Review 34/2022
Last week saw the minutes from the RBA and FOMC plus RBNZ raised to 3% and Aussie unemployment fell to 3.4% whilst Aussie wages fell too. Also, a number of Fed Heads continued to push the narrative that rates have a long way to go.
Market In Review 32/2022
US Payrolls delivered the US Fed from credibility purgatory as rate hike odds spiked higher, bond yields jumped, and the Greenback roared.
Market In Review 29/2022
NZ raised rates by 50 to 2.5%, Canada raised by 100 to 2.5% too, which surprised the market somewhat. US Inflation was up 1.3% to 9.1% and Australian unemployment fell to 3.5%. Chinese GDP fell but retail sales in China and USA both came in stronger with US Consumer sentiment also printing higher.
Market In Review 28/2022
A busy schedule in the week ahead should provide some directional trading and volatility. Last week finished with the USA job numbers coming in hotter than expected, adding 372K over an expected 260K.
Market In Review 27/2022
What inflation? The market, for no discernible reason, decided on Friday that inflation is no longer the important issue, but the looming recession is.
Market In Review 26/2022
FX markets trod water last week as bonds weakened somewhat but the big story was the aggressive bounce in stocks on Friday. There was no major data or headlines for the stocks to run higher from, but there seems to be two major drivers for it. One is a short squeeze, second is the timing of the Fed.
Market In Review 25/2022
Last week the market pretty much trod water waiting for the US FOMC meeting. It needed to take a breather after the hectic sell off from the inflation numbers.
Market In Review 22/2022
Last week the markets rolled over somewhat with a general bounce across assets. Bucking the trend is the commodity market which continues to push higher led by oil price of course.
Market In Review 19/2022
Last week was a howler with markets roiling in the wake of major moves and forward guidance from Central Banks.
