Global markets After a strong run in recent weeks, US stocks pulled back last week due to a sharp rise in bond yields which, in turn, reflected the Fitch credit downgrade and official plans for higher US long-term public debt issuance. The US July payrolls report, …

The ‘melt-up’ in US stocks continued last week, with the S&P 500 adding another 1.0%. There were various reasons for investors to remain upbeat: the Fed hiked rates but displayed a more neutral outlook, the Q2 US earnings reporting season remained encouraging (thanks to …

Global markets The effective ‘melt-up’ in US stocks continued last week, with the S&P 500 adding another 0.7%. Although earnings misses by Netflix and Tesla briefly weighed on markets, the overriding narrative remains that of growing hopes of a soft landing given resilient economic growth, easing inflation, and …

Global markets The key development over the past week was the weaker-than-expected US CPI result, which has reduced the risk of further aggressive Fed action that ultimately pushes the economy into recession. According to Fed comments, it still seems likely the Fed will hike at next …

Global markets The key development over the past week was ongoing solid US economic reports, which along with hawkish Fed minutes saw bond yields move notably higher. US 10-year bond yields rose by 0.22% to 4.07% – a new high for the year though still a …

Global Markets Solid economic data and a reasonably benign inflation report provided further reassuring signs to Wall Street last week that the US economy remained on a “soft landing” track. Even Powell’s ongoing threat of two additional rate hikes is being taken in its stride – …

Global markets It was another encouraging week in global markets, with investors taking the ‘hawkish pause’ by the US Fed well in their stride. …

Global markets Global equities continued to grind ever higher last week, with some improvement in breadth as US small-cap stocks posted better performance than large-cap stocks. …

Global markets Passage of the US debt deal through both the Senate and House in Washington helped support equity markets last week, as did a ‘Goldilocks’ US payrolls report on Friday. …

Global markets were fixated on US debt ceiling negotiations last week along with the meanderings of various Fed officials. The week ended with a report suggesting US core inflation pressures remain uncomfortably high. US equities and bond yields ended the week modestly higher – with …