Weekly Market View from Realm Investment Management. Week ending 24th June 2022.
The US stock-market rallied last week. Prior to that it had fallen for three consecutive weeks. The technology sector had a strong week but energy stocks under-performed and were generally lower.
After hitting it’s highest level since 2012, the US 10-year bond yield fell back last week along with commodities which experienced significant falls in price, including oil, copper, wheat etc. Even so, Fed Chairman Jerome Powell acknowledged that hikes in interest rates sufficient to defeat inflation could potentially tip the US economy into recession. He said “it’s not our intended outcome at all, but it’s certainly a possibility”, adding “we can’t fail on this. We really have to get inflation down”.
In the UK, data from the Office for National Statistics showed inflation hit another 40-year high, up slightly to 9.1% in May.
In Europe, weaker-than-expected Purchasing Managers’ Index (PMI) data indicated that an economic slowdown may be underway.
The Big Picture 24th June 2022
Market Sentiment 24th June 2022
U.S. Risk Barometer 24th June 2022
Europe Risk Barometer 24th June 2022
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