RECENT MARKET NEWS
- US markets down by 2.98% for the week and are now down 4.24% for the month, international stocks fall by 1.99%. Bonds were down by 0.46% and down by 1.54% for the month. The 10-year bond hit a 16-year high.
- The CPI was up by 0.6% month over month and 3.7% year over year, mainly due to higher energy prices.
- There is still hope for a soft landing, but inflation, fed policy, and higher interest rates all present challenges.
- The US budget deficit was $1.5 trillion as of the end of August, up by $577 billion from last year. And, of course, higher interest rates will make the situation that much more unmanageable.