Market focus shifting from inflation to debt ceiling

Market review – week ending 12th May 2023

Stocks were generally flat to slightly lower last week.

Inflation has been the main focus for investors for months but there was encouraging data last week. In the US, the rate of annual inflation fell to 4.9% in April; below 5% for the first time in two years and may give the Fed room to pause rate hikes next month. That’s the market implied expectation and looking further out, rate cuts are anticipated before the end of the year – this in contrast to what the Fed seems to be thinking…

Full report

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