The 3Q23 Advance GDP reading of 4.9% annualized growth was in line with the GDPNow projections confirming economic acceleration from 2Q. October Flash PMI data indicated a Manufacturing pickup in
Weekly Review & Outlook: October 23, 2023
Bank earnings continue to beat expectations in the current quarter with managements overwhelmingly maintaining very defensive forward postures. The US Treasury curve flattened substantially through a bear steepening path with
Weekly Review & Outlook: October 16, 2023
In an eventful week, the early reporting banks uniformly beat EPS consensus estimates for 3Q23. Inflation readings for September reinforced a higher for longer monetary policy path. Geopolitical risks rose
Weekly Review & Outlook: October 9, 2023
Economic data from last week generally conformed to the slowing but still growing U.S. economy reference frame. Stocks were left roughly flat over the full week while the longer maturity