Saturday, April 23, 2022

Stocks Succumb to Bond-Market Rout as Fed Inflation Hawks Circle

From Bloomberg

Stocks Succumb to Bond-Market Rout as Fed Inflation Hawks Circle

  • Rising rates, spike in commodities, war all causing volatility
  • Meanwhile, investor tech darlings getting decimated: Gokhman

A week that began brimming with economic optimism ended up caving in on stock bulls, who find themselves increasingly helpless in the face of determined Federal Reserve inflation fighters.

It was a stretch that may be remembered as the time bond investors reestablished themselves as rulers of the asset-market roost. Surging yields, whipped up by a belief Jerome Powell’s central bank will enact four half-point rate hikes by September, sent the S&P 500 to a third straight down week, only the second such stretch in 18 months.

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Believe it or not > This is severa degrees above the daily "normal" for summer temperatures...remainder of the week a degree or two warmer :)

  US National Weather Service Phoenix Arizona   t͏ o͏ r͏ o͏ S͏ d͏ n͏ p͏ e͏ s͏ 5͏ 3͏ 8͏ c͏ u͏ 5͏ a͏ 6͏ 1͏ t͏ f͏ 2͏ c͏ 6͏ m͏ g͏ 4͏ u͏ i͏ 1͏ 5͏...