On Tuesday, The Conference Board said its consumer confidence index fell to its lowest level in 12 years in September.
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Anthropic’s CEO said last year that the technology could eliminate half of all entry-level white-collar roles.
The 10-year yield has surged to 5.223%, the most in 19 years, while the 30-year yield hit 5.501%, the most since 2004.
Since 1930, Citrini found, the S&P 500 has fallen an average 1.1% in the last two weeks of September before bouncing back in October.
It’s the central bank’s first increase since 2023, a move that looked far from certain as recently as one week ago.
The rout has been caused by energy shocks, surging US government debt, inflation and capital investment the size of national GDPs.
All signs point to an interest-rate hike when the Federal Reserve’s monetary policy concludes this week’s meeting.
Bond investors are demanding higher yields, essentially raising the cost of borrowing no matter what the Fed decides to do in September.
Wealth managers are looking beyond fixed income products into private markets and exchange-traded funds.
The CME FedWatch Tool shows the market is pricing in a 60% chance the Federal Reserve holds interest rates steady in September.
Many COVID real estate hot spots, such as Austin and Boise, have watched their housing markets flatten or reverse in the years since.
SGOV from iShares may become the first ETF in its class to reach $100 billion in assets.
Consumer prices jumped 3.5% in June. That’s higher than the Fed’s preferred 2% inflation rate, but lower than the 4.2% May rate.
Wealth managers are keeping an optimistic, but realistic, outlook for the second half of the year.
Labor-intensive services such as gardening, home healthcare and day care and preschool were all significant drivers of inflation.
After a dry spell amid high interest rates and inflation uncertainty Q1 saw 35 IPOs raise $9.9 billion, according to Renaissance Capital.