Market Notebook

by | Oct 1, 2023

Discussion – 

Equity prices, as measured by ticker SPY, and bond prices, as measured by ticker BND, closed lower on the week.

SPY price action suggests that equities may be in consolidation.

BND price action suggests wide-ranging consolidation with recent tendencies toward a downward trend. A retest of the October 2022 lows appears to be in progress. A breach of the October 2022 lows would be bearish for bonds.

Market participant sentiment suggests pessimism. The Federal Reserve’s action in holding rates steady and communicating that rates may remain static for longer appears to concern investors.

Economic indicators within the Market Notebook remain mixed.

Jobless claims are to be watched as an important indicator of a potential recession. Thus far, jobless claims are not indicative of a near-term recession.

All the best during the week ahead!

Disclaimer: Nothing in this discussion should be considered investment advice. The content of this discussion is strictly my personal opinion and subject to change at a moment’s notice. Investment advice can only be provided to you by your investment professional and not by a general market discussion such as this one. If you wish to speak with an investment advisor, contact us. We can probably help.