November was a good month for markets as the bounce from October continued. U.S. indices saw single-digit gains, and developed and emerging markets were up by double digits. The primary driver here was optimism that the Fed will slow future rate increases. On the economic side, job growth remained healthy, inflation dropped, and business confidence was strong.
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Commonwealth
Jobs Report Preview: Will We Get a Miss?
It’s time for the monthly jobs report preview, which is worth doing for a few reasons. First, it lets us consider the most important driver of the economy both for history and for the immediate data. Second, it makes us think about our expectations. And third, of course, it will be in the headlines.
Economic Release Snapshot: Durable Goods Orders Beat Expectations
Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.
Economic Release Snapshot: Retail Sales Remain Strong as Housing Slows
Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.
Inflation Has Peaked
To be honest, I probably would not have used that headline a couple of weeks ago. Although I spent about a month putting together my talk for Commonwealth’s National Conference, which pretty much comes to that conclusion, I was not yet at a point where I would put that as the headline. Even as I rehearsed the night before, I was thinking about how I would handle the talk if the next morning’s data release—just hours before the talk itself—put inflation back up again. I couldn’t rewrite my presentation, as there wasn’t enough time (and besides, the art department was already upset with me).
Monthly Market Risk Update: November 2022 [SlideShare]
My colleague Sam Millette, manager, fixed income on Commonwealth’s Investment Management and Research team, helped me put together this month’s Market Risk Update. Thanks for the assist, Sam! Let’s take a closer look.