Market Updates

 

BlackRock Commentary: Central banks tightening from all sides

Markets are rallying on hopes policy tightening is nearing an end – prematurely, in BlackRock’s View. They think the Fed, like other developed market (DM) central banks, will only stop when the severe damage from rate hikes is clearer.

BlackRock Commentary: Recession eclipses U.S. midterm result

Equities usually do well after U.S. midterms. Why? Gridlock is common and prevents policy change that could spook stocks. BlackRock don’t see that past playbook working this time due to the recession they expect from the Fed ratcheting up rates.

Weekly Updates - Notes from the Trading Desk

Notes from the Trading Desk – Franklin Templeton

The key focus for this week will be the European Central Bank (ECB) meeting on Thursday, with a 75 basis point interest-rate hike expected. ECB President Christine Lagarde will also speak, likely to reiterate that quantitative tightening will begin after interest-rate normalisation has completed. The US GDP report on Thursday will also be closely watched. Earnings season gets into full swing this week, so focus will be on corporate reporting.

No recession cover in sovereign bonds Blackrock Commentary

BlackRock Commentary: No recession cover in sovereign bonds

Recession fears are roiling markets. Investors traditionally take cover in sovereign bonds, but we see this recession playbook as obsolete. Why? First, central banks are hiking rates to try to tame inflation, causing recessions. Second, we don’t see them cutting rates like they typically do in recessions due to persistent inflation. Third, we expect investors to demand more compensation for the risk of holding government bonds amid high debt loads.

Infrastructure taking the long view Blackrock Weekly Commentary

BlackRock Commentary: Infrastructure – taking the long view

Rapid rate hikes are hitting markets now and will likely spark a recession, but we eventually see central banks stopping and living with inflation. Public market selloffs have cut the relative appeal of many private assets, but we see value in infrastructure thanks to a huge investment wave powered by the energy crunch and digitalization.

Franklin Templeton Weekly Update

Notes from the Trading Desk – Franklin Templeton

Pressures on the UK consumer remain front and centre. There is a focus on the extreme moves in mortgage rates and the potential impact this will have on the housing market and consumer spending. The government has brought forward its fiscal statement to 31 October in order to shore up market confidence.

Notes from the Trading Desk – Franklin Templeton

Last week, the United Kingdom took centre stage for all the wrong reasons. Following the controversial “fiscal statement” from the UK government on the prior Friday, financial markets took fright at the sweeping range of unfunded tax cuts and spending proposals, as many felt the plans lacked in detail and costing.

Notes from the Trading Desk - Franklin Templeton

Notes from the Trading Desk – Franklin Templeton

The Federal Reserve (Fed), the Bank of England (BoE), the Swiss National Bank (SNB), Norges Bank and the Riksbank all raised interest rates last week and paved the way for further hikes at upcoming meetings.

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