Week Ending 12/23/2022


US stocks fell slightly, down 0.17%, while international stocks managed a 0.60% advance. Bonds dropped by 1.39%.

Personal spending was up by 0.1% in November, down from 0.9% in October, indicating a slowdown in consumer spending. At the same time, the personal consumption expenditures price index increased by 5.5% year over year in November, down from 6.1% in October. Month to month, the increase was only 0.1%, compared to 0.4% in October. So, inflation seems to be dropping at a decent pace.

Caroline Ellison and Gary Wang, two senior executives at FTX/Alameda, pleaded guilty to fraud and to cooperate in the government’s investigation. In the meantime, ringleader Bankman-Fried was bailed out of jail on a $ 250 million bond.