Weekly Market Recap
A look back at the financial markets over the past week and a look ahead at key economic developments this week.
Source: JP Morgan Asset Management
Weekly Macro Recap
A look back at key macroeconomic and geopolitical developments that help us contextualize the current investing landscape.
Source: Luke Gromen, FFTT
Volatility a Key Feature of New Market Regime
The plunge in long-term U.S. Treasury yields last week on news of slowing U.S. inflation shows volatility is persistent in the new regime of greater macro uncertainty. Compounding this is a disconnect between the latest cyclical market narrative of a strong expansion – and the reality we have just climbed out of a deep economic hole caused by the pandemic.
Source: Blackrock
U.S. Retail Black Friday Deals Arrive Early
Black Friday deals are arriving earlier this year as U.S. consumers are still dealing with higher prices from a year ago. As a result, retailers know that shoppers have become price-sensitive and are looking for steep promotions and discounts. Therefore, retailers have ramped up the amount of merchandise on sale, hoping that more shoppers will open their wallets ahead of Black Friday.
Source: Refinitiv
China Central Bank Chief Flags Regional Debt Servicing ‘difficulties’
Pan Gongsheng, governor of the People’s Bank of China, warned on Tuesday that certain financially weaker regions in the west and north of the country may have “difficulties servicing local government debts.”
Source: Nikkei Asia
West’s De-risking Starts to Bite China’s Prospects
Foreign investors have been sour on China for most of this year, but data released over the past month has provided clear evidence of the negative impact de-risking strategies are having on the world’s second-largest economy.
Source: Reuters
Treasury to Borrow $776 billion in the Final Three Months of the Year
The U.S. government’s borrowing needs will decline slightly in the final three months of 2023 from the prior quarter, a potentially important development during a turbulent time for the global bond market.
Source: CNBC
Lawmakers are Ditching Congress at a Record Pace
Lawmakers are fleeing Congress at a record clip, with 13 senators and representatives announcing this month they won’t seek re-election — the highest number in more than a decade, according to Ballotpedia.
Source: Axios