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Daily reports from our Chief Economic Strategist.
WHAT WILL BE THE RAMIFICATIONS OF THE COLLAPSE OF FTX?
What will be the ramifications of the collapse of FTX? Traditionalists believe a currency is only worth its backing, a backing earned by
A RELATIVELY QUIET DAY
Led by technology, equities declined as worries mount that China may tighten COVID curbs after a string of reported deaths. Energy
ONE YEAR AGO…
One year ago, today the NASDAQ 100 closed at an all time. It is now down 31% from this level. According to Bloomberg, this
IS A GEOPOLITCAL PREMIUM ABOUT TO RETURN?
Is a geopolitical premium about to return to the markets? Equities reversed a large part of the gains following the
A RELATIVELY QUIET DAY; PPI AT 8:30
Equites wavered following FRB Vice Chair Brainard statement that it would be “appropriate” for the central bank
HAS INFLATIONARY EXPECTATIONS INCREASED?
As mentioned many times, inflation is a two part dimension…too much money chasing too few goods fearing higher
FED WAS FIRST VIEWED WITH A DOVISH TILT…
As expected the FOMC increased the overnight rate by 75 basis points to a targeted range of 3.75% to 4.0%
JOLTS JOB OPENINGS AND THE FED MEETING
September’s JOLTS Job Openings ended any remote thoughts that the Fed will not increase the overnight rate by 75 bps for a record
WELCOME TO NOVEMBER
October was almost a mirror inverse of September. For the month the S & P advanced about 8.0%. September the S & P declined about
TWO DAY FED MEETING COMMENCES TOMORROW
The two-day FOMC meeting concludes Wednesday. It is expected Fed officials will maintain their resolutely
