Week Ending 8/18/2023


  • US stocks -2.16%, international -3.03%, bonds -0.47%.
  • Interest rates are up by 21 basis points on the 10-year to 4.30%. Rates were as high as 4.33%, the highest rate since 2007.
  • GDPNow is tracking at 5.8%, a stronger economy is pushing up rates.
  • If rates are going to be higher for longer, then the math suggests lower p/e multiples for stocks.
  • Mortgage rates hit a 20-year high, 7.09%.