Market Review from Realm Investment Management – week ending 17th February 2023
Concerns rose last week that the US Federal Reserve will stick with large rate hikes. US CPI data for January came in above forecast at 6.4%, US producer prices in January reached a 7-month high and US initial jobless claims came in lower than expected. The yield on the 10-year US Treasury Note rose above 3.9% on Friday, its highest level since November.
Subsequent comments from Fed officials re-inforced the idea that another 0.5% rate hike in March might be back on the table – Loretta Mester, Cleveland Fed President, said there was “compelling economic case” for it. Markets are now pricing in two more 0.25% interest rate hikes from the Fed this year at a minimum.
Full report:
All things considered – stocks did well last week – Realm Investment Management (realmim.com)
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