Bassanese Bites: Not for turning – August 22 2022
Market update: week in review After recent solid gains, global stocks suffered a modest setback last week as the combination of increasingly weak US economic data and resolute hawkish commentary from Fed officials started to unnerve investor sentiment. As evident in the chart below, a range of …
Bassanese Bites: Bear market folly – August 15 2022
Week in review By far the global highlight last week was the softer than expected US July consumer price index report, with both headline and core inflation lower than market expectations. In turn this helped extend the rally in stocks and bonds that we’ve been enjoying …
Bassanese Bites: On song – August 08 2022
Week in review It was a mixed week for global markets, with investors still unsure whether to laugh or cry about the fact the US is not yet in recession. After some early fleeting geo-political concerns surrounding US House speaker Pelosi’s visit to Taiwan, US stocks …
Bassanese Bites: Burns or Volker? – August 01 2022
Week in review Global equities saw fit to look on the bright side again last week, rallying in the face of weakening US economic data and another jumbo-sized 0.75% Fed hike. Indeed, the US tipped into a technical recession last week with a second successive negative …
Bassanese Bites: Hot CPI ahead – July 25 2022
Week in review It was a topsy-turvy week for global equities, with investors still unsure whether to laugh or cry in the face of mixed earnings reports and weakening economic data. In terms of major global markets, equities are still trying to stage a recovery, taking …
Bassanese Bites: Earnings test – July 18 2022
Week in review Global equities finished only modestly down over the past week, with investors taking solace in encouraging news wherever it could be found. Stocks weakened early in the week out of fear of a very hot US CPI report – and those fears were …
Bassanese Bites: Good news is good? – July 11 2022
Week in Review If ever one wanted confirmation that Wall Street is not priced for recession, last week was it. In a curious twist, equities saw fit to rally mid-week on better than expected surveys of the US manufacturing and services sector, even though this …
Bassanese Bites: Bad news is bad – July 04 2022
Week in review Global stocks weakened last week as the previous week’s hope of a soft landing morphed into fears of a hard landing, especially given a plunge in US consumer expectations and a weak ISM manufacturing report. Note, moreover, Wall Street weakened despite a slightly …
Bassanese Bites: Laugh or cry? – June 27 2022
Week in review A feisty 6.4% rebound in the S&P 500 was the major market highlight of the past week, supported by declining bond yields and commodity prices. With aggressive interest rate hikes slowly but surely starting to take the edge off global growth, equity investors are …
Bassanese Bites: U.S. recession likely – June 20 2022
Global markets It was another horror week for global equity (and bond) markets as the previous week’s hotter than expected U.S. consumer price index report led to fears that the Fed would hike by 0.75% at last week’s meeting. Following a well-timed media leak, those fears …