September 26, 2022

Weekly Market Update

By Michael McKeown, CFA, CPA - Chief Investment Officer

Weekly Market Update

Chart of the Week

The strength of the U.S. dollar is on display as it makes multi-decade highs against currencies around the world. The faster pace of interest rate hikes domestically compared to the rest of the world continues to pressure foreign currencies. Last week, Japan’s Ministry of Finance intervened in the currency market for the first time since 1998 to slow the Yen’s slide. This may be the first of many countries to contemplate intervention.

U.S. Dollar Rises

What We’re Reading

FOMC and Inflation: What You Need to Know – Henry McVey, KKR
Predicting the Next Recession – Calculated Risk
The Matter of Nukes and Ukraine [Video] – Zeihan on Geopolitics
Ivy Zelman Sees Home Prices Falling 9% from 2023 to 2024 – Fortune via Yahoo

Podcast of the Week

What Europe Needs To Do This Winter – Odd Lots

The Past Week

Housing data was mixed last week, though the homebuilder survey showing contraction at below 50 confirmed the negative outlook. The Fed raised interest rates 0.75% as expected. Jobless claims continued to fall while both manufacturing and services data surprised on the upside.

The Past Week

The Week Ahead

A snapshot of the economy will be out with data releases this week.  The National Activity Index, a co-incident economic indicator, from the Chicago Fed showed steady growth in August. Investors are thinking about how earnings will be affected by the rise in interest rates and slowdown in certain sectors.

The Week Ahead

Talk to you next week

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