AHR Weekly Market Update - Monday 17th July
On this week’s AHR Market reviewDuring a week where US inflation data came in lower than anticipated, there was a surge in global equity and fixed income markets as hopes were reignited regarding an eventual end to monetary policy tightening.In June, US consumer prices experienced a modest increase, marking the smallest annual rise in over two years as inflation continued to subside. As market attention shifts to the second quarter earnings season, top banks such as JPMorgan Chase, Citigroup, and Wells Fargo reported results that largely exceeded Wall Street expectations in terms of both revenue and income.Chinese economic growth notably slowed down in the second quarter, with GDP rising by 0.8% compared to the 2.2% surge witnessed in the previous quarter following the COVID-19 pandemic.In the realm of stock markets, US stocks rallied between 2% and 3%, and European equities closed the week 2.95% higher, marking the largest weekly gain in approximately three-and-a-half months. The latest inflation data from the US eased concerns about the pace of future interest rate hikes, leading to a reversal in the sharp rise of government bond yields observed in the previous week. To hear more click the link.