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Market Minutes Recap - Market Update (Perspectives on consumer spending, PCE inflation, the yield curve, and the FTC's lawsuit against Amazon)
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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 consumer spending, PCE inflation, the yield curve, and the FTC's lawsuit against Amazon.
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
George Mateyo, Chief Investment Officer
Rajeev Sharma, Head of Fixed Income
Connor Cloetingh, Senior Lead Equity Analyst
01:15 - Comments on the government shutdown as September 30 marks the fiscal year end for government spending; Congress is looking to pass a temporary spending bill as conversations to determine the government's spending plan continue throughout October
02:35 - Reactions to this morning's PCE inflation report, specifically that Core PCE data continued to recede year-over-year from 4.3% in July to 3.9% in August
06:20 - A look into the surge in yields and the observation that rates are going to stay higher for longer. Though we know the Fed's stance on the economy and its push for reducing inflation, the PCE report and yields may be projecting a different narrative
10:50 - Comments on what caused the recent spike in the 10-year Treasury yield
12:19 - Insights into the stock market; it seems to be holding true that stocks are down due to increased yields. It looks as if it will be harder for equities to continue to grow in a "higher for longer" environment
16:15 - Remarks on the FTC's lawsuit against Amazon relative to anti-trust provisions and its retail monopoly
18:01 - Final comments on earnings estimates, interest rates, and oil and energy prices that seem to be getting too high. Emphasis on investors’ portfolios staying balanced towards risks
Additional Resources:
Key Questions: How Big of a Bite Into Apple Will China Take? | Key Private Bank
Key Questions | Key Private Bank
Key Private Bank Investment Brief | Key Private Bank
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