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Week in Review: 20-24 March 2023

Summary and Commentary

 

Past Wednesday, March 22 2023, the FED raised interest rates another 0.25 %, and signaled that more rate hikes might not be required. We were assured the banking system is robust and deposits are kind of guaranteed... But you should decide who to trust.

The markets have been swinging up and down, as if waiting for some big piece of news, some new COVID or nuclear war, to decide the market direction.

We don't see how a recession can be avoided, as the COVID cash dries up, economic/financial crises develop and unemployment rises...

We are seeing US yields falling, a massive debt buying. Stocks have been holding up, but without direction. Our feeling? The next big stock market move will be down, likely sharp (this can unfold later in the year, as the economy slows and earnings disappoint).

In the UK, inflation keeps steady at record highs (10.4 %)!!! QoQ GDP was -0.2% in the previous quarter, let's see how the numbers are this time!!!

In the US, durable goods orders fell (-1 %), but less sharply than in previous months (-5 %).

China and Russia unite forces and strengthen collaborations. Nuclear tensions in Europe increase, as dirty bombs (depleted Uranium) are supplied to Ukraine and Russia brings nuclear weapons to Belarus.

Interesting times we live in...


Have a nice week.

 

Sources:

https://edition.cnn.com/2023/03/25/world/russia-putin-nuclear-weapons-belarus-intl-hnk/index.html

https://www.youtube.com/watch?v=Co3WU9xjQkM&pp=ygUKZm9tYyBtYXJjaA%3D%3D 

https://www.cnn.com/2023/03/22/europe/china-xi-russia-putin-talks-five-takeaways-intl-hnk-mic/index.html

https://tradingeconomics.com/


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