Fairly Choppy Markets, Light Macro Heading Into Fed Day
This is a concise weekly market recap for advisors who want a manager's rundown of cross-asset moves and the macro data flow into a Fed meeting. It highlights the PMI inflation detail and the market's no-hike expectation as context for client conversations.
Summary
By the markets & outlook deskDoubleLine's Jeff Mayberry and Mark Kimbrough review the market week ended Oct. 23, which was volatile across asset classes but ended relatively flat, with a possible mini-run in tech stocks and bonds acting as a safe haven. They also cover commodities and a light macro calendar ahead of the FOMC meeting, including labor data and an S&P Global U.S. PMI report in which inflation was a noticeable issue. The segment previews Fed Day, which the market does not expect to bring a rate hike, plus durable goods, home price data and the latest PCE print.
- The week ended Oct. 23 was volatile across asset classes but ended relatively flat.
- Tech stocks may have had a mini-run, while bonds acted as a safe haven and commodities were also covered.
- Macro was light ahead of the FOMC meeting, with unsurprising labor numbers and a firm S&P Global U.S. PMI report in which inflation was a noticeable issue.
- The market does not expect a rate hike on Fed Day; durable goods, home price data and PCE are due next week.
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