Fixed-income markets in the US reverted to their traditional role of delivering upside support when the rest of the portfolio tanks. It’s too soon to say if this is a return to form for bonds for an extended period, but with more rate hikes expected there’s still plenty of room for debate.
Daily Archives: July 18, 2022
Macro Briefing: 18 July 2022
* Russia’s war against Ukraine looks increasingly like terrorism
* US retail sales rose more than expected in June
* Fed officials signal they are likely to raise interest rates by 0.75 percentage point
* Economic pain is sweeping across Europe (and Russia)
* Consumer sentiment ticked up in July but remains near record low
* US industrial output fell in June–first monthly decline this year
* Earnings season off to slow start, adding new headwind for stocks
* Strong dollar could help the Fed fight inflation
* Mixed jobs data lift uncertainty for US labor market outlook
* Real wage growth is taking a hit from inflation:
