Provides a market round up, a selection of useful data points we use for our investment analysis, and some interesting articles/charts we have noticed recently.
The major US indexes ended mixed for the week, with the S&P 500 Index closing out its best month since December but its worst quarter since early 2020.
Cyclically sensitive stocks underperformed as investors girded for a slowdown in growth, with the financial services and industrials sectors in the S&P 500 among the losers. Higher interest rate expectations took a toll on the information technology sector, while the typically defensive consumer staples and utilities sectors outperformed.
Following the US yield curve inversion, prices of U.S. Treasuries rose for the week as the yield on the benchmark 10-year U.S. Treasury note fell slightly, but the Bloomberg U.S. Aggregate Bond Index rounded out its worst quarter since late 1980, and its third-worst quarter since the index’s inception.
Shares in Europe gained ground in a choppy week of trading, overcoming concerns about the macroeconomic outlook amid strong inflation and the ongoing Russian invasion of Ukraine. In local currency terms, the pan-European STOXX Europe 600 Index advanced 1.06%. Germany’s DAX Index climbed 0.98%, France’s CAC 40 Index tacked on 1.99%, and Italy’s FTSE MIB Index added 2.46%. The UK’s FTSE 100 Index added 0.73%.
At home in Oz, inflation pressures are still mounting and as the federal budget pointed to, cost of living will be a key part of the next election.
Major supermarkets Coles and Woolworths have denied suggestions they could lift home delivery fees or begin charging customers for click and collect orders despite rising fuel prices and concerns from analysts about a squeeze on online profit margins.
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