Chart of the Week
Dividing the four years of the Presidential cycle into 16 quarters reveals an interesting pattern. The first three quarters of the second year of the cycle are seasonally the weakest. The silver lining is that after mid-term elections, markets enter the period with the highest historical returns. This pattern has held regardless of the party in control of the Presidency or Congress.
What We’re Reading
Wealth vs. Getting Wealthier – Morgan Housel
24 Charts Show We are Living Better Than Our Parents – Full Stack Economics
Home Sellers Are Slashing Prices in Sudden Halt to Pandemic Boom – Bloomberg
How the Brain ‘Constructs’ the Outside World – Scientific American
Podcast of the Week
Fixed Income in Retirement Plans – Macro Markets
Tweet of the Week
With higher mortgage rates, the housing market is coming back down to earth. Less bidding wars and more inventory may be on the horizon.
The Past Week
The Week Ahead
This week a number of Fed governors will be speaking and the tone of the speeches will be watched closely by the bond markets. The Wednesday CPI report will be key to see if inflation stays hot or looks like a slowing in the rate of change. On Thursday, JPMorgan kicks off earnings season, with a number of banks reporting the rest of the week.
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