Market Minutes Recap - Market Update (Perspectives on the housing market, unemployment claims, the FOMC meeting, fixed income, and the stock market)
In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel shares detailed insights into the housing market, the FOMC meeting, unemployment claims, fixed income, and the stock market.
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
Rajeev Sharma, Head of Fixed Income
Cynthia Honcharenko, Director of Fixed Income
Michael Sroda, Senior Lead Equity Analyst
Cynthia Honcharenko, Director of Fixed Income
Michael Sroda, Senior Lead Equity Analyst
01:09 - Indications that increased mortgage rates are having an effect as we saw existing home sales went down 0.7% in August, and housing starts also went down to 11.3% in August from July
2:08 - Recap on the Federal Open Market Committee (FOMC) meeting and press conference; comments on the Fed opting to not increase interest rates leaving funds unchanged at the 5.50% upper bound
6:00 - Reactions to the Fed staying paused and passing on raising interest rates; Likewise, we saw central banks like Swiss National Bank and Bank of England are following suit in taking a pause which is contributing to higher global bonds yields
11:59 - A look into how the Fed's announcement contributed to the week's stock market trends with the S&P 500 down 2.56%, the Dow down 1.6%, and the NASDAQ down 3.32%
15:19 - Final comments on reports and trends we can expect to see as the end of the quarter approaches