August 31, 2022
Market Performance (YTD)
Source: YCharts
Disclaimer: Past performance is no guarantee of future performance
The Bloomberg Global Aggregate Index has lost 19.3% since its record high in January 2021, & is now less than a percentage point away from the first bond bear market in a generation. via @theterminal's Garfield Reynolds & Finbarr Flynn. pic.twitter.com/RvTGldcaZ6
— Lisa Abramowicz (@lisaabramowicz1) August 30, 2022
"While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation," Fed Chair Jerome Powell says at Jackson Hole
— Matthew B (@boes_) August 26, 2022
Key line: “Restoring price stability will likely require maintaining a restrictive policy stance for some time. The historical record cautions strongly against prematurely loosening policy.”
— Kailey Leinz (@kaileyleinz) August 26, 2022
Markets are building in a peak fed funds rate at 3.75% to 4.0% early next year and a modest 25 bp cut in late 2023. That's not an unusual path. The Fed has lowered rates within 3 mos of previous peaks. Average is 9.5 months. Each cycle is unique. pic.twitter.com/lXHpHB1PV1
— Kathy Jones (@KathyJones) August 29, 2022
√ While #US GDP was confirmed to have contracted, GDI (which should equal GDP) rose further in Q2, making the gap between them ever wider (3.8%!)
√ As historical revisions have moved GDP towards GDI, Sep annual revision should make a Fed pivot even more unlikely to happen soon pic.twitter.com/BvbS0yrkkA— Patrick Zweifel (@PkZweifel) August 25, 2022
US Corporate Profits Soar With Margins at Widest Since 1950 https://t.co/rnT8uwwDoM pic.twitter.com/bFQKzw7d6I
— Sam Ro 📈 (@SamRo) August 28, 2022
🇺🇸July #JOLTS reports: Modest easing of hiring activity, but no indications a sharp pullback, nor of strong rise in layoffs
⬆️Job openings still elevated: 11.2mn (+199k)
⬇️Hiring is easing: 6.4mn (-74k)
⬇️Quits are easing: 4.2mn (-74k)
✅Layoff at historical lows: 1.4mn (-2k) pic.twitter.com/cAN97Zanb0— Gregory Daco (@GregDaco) August 30, 2022
Home price growth finally easing: June S&P @CoreLogicInc 20-City Index (blue) +18.6% y/y vs. +19.2% est. & +20.5% in prior month; overall U.S. National Home Price Index (orange) +18% vs. +19.9% in prior month pic.twitter.com/0CejF6RVRn
— Liz Ann Sonders (@LizAnnSonders) August 30, 2022
House price index comes in at 0.1% the lowest reading since the depths of the pandemic, led by big drops in the mountain and pacific states and Midwest. pic.twitter.com/NzB3IOxFTB
— Kathy Jones (@KathyJones) August 30, 2022
US Home Prices MoM% Change, S&P/Case-Shiller Table {ECAN}: pic.twitter.com/oGb2LMMApl
— Michael McDonough (@M_McDonough) August 30, 2022
Home prices remain up from a year ago but MoM data show that prices are slipping in parts of the West Coast and Rocky Mountains. pic.twitter.com/wsFp4g7kKO
— Kathy Jones (@KathyJones) August 30, 2022
The dollar climbs to a new 20-year strength vs peer currencies. pic.twitter.com/Q7xtdkn4SQ
— Lisa Abramowicz (@lisaabramowicz1) August 29, 2022
German power for next year broke through the €1,000 per MWh level for the first time as the European energy crisis intensifies | #EnergyCrisis #energytwitter pic.twitter.com/OEPgaDyU9C
— Javier Blas (@JavierBlas) August 29, 2022
Disclosure
Clear Rock Advisors, LLC is registered with the SEC as a registered investment advisor with offices in Texas. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended and/or undertaken by Clear Rock Advisors, LLC) or any investment-related or financial planning consulting services will be profitable, equal any corresponding indicated historical performance level(s), or prove successful. It remains the client’s responsibility to advise Clear Rock Advisors, LLC, in writing, if there are any changes in the client’s personal/financial situation or investment objectives for the purpose of reviewing, evaluating or revising Clear Rock Advisors, LLC’s previous recommendations and/or services, or if the client would like to impose, add to, or modify any reasonable restrictions to Clear Rock Advisors, LLC’s services. A copy of Clear Rock Advisors, LLC’s current written disclosure statement discussing its advisory services and fees are available upon request.