October inflation data provided relief to both equity and bond markets as confidence that the Fed has reached the terminal rate in the hiking cycle increased. In the upcoming holiday
Weekly Review & Outlook: November 13, 2023
Bank industry data providing more details on trends through the end of the 3rd quarter supported earlier findings of an industry overwhelmingly in a defensive posture as uncertainties secondary to
Weekly Review & Outlook: November 6, 2023
“I will say that we’re not confident at this time that we’ve reached such a stance. We’re not confident that we haven’t, we’re not confident that we have.†– Jay
Weekly Review & Outlook: October 30, 2023
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