AHR Weekly Market Update - Monday 2nd October
On this week’s AHR Market review..Despite continued signs of cooling inflation, nervousness around the potential of a US Government shutdown dominated market sentiment through much of the week.After markets closed, the U.S. Congress passed a stopgap funding bill late on Saturday with overwhelming Democratic support to fund the government until November 17th. There was more positive economic news as underlying U.S. inflation moderated in August, with the annual rise in prices excluding food and energy falling below 4.0% for the first time in more than two years, welcome news for the Federal Reserve as it ponders the monetary policy outlook.Key housing data releases pointed to a slowdown in residential property in the US and UK.Ahead of third-quarter earnings season, more U.S. companies have scaled back their earnings-per-share expectations than raised them. On the whole September was a poor month for equities, with the US market falling nearly 5%. The higher for longer rate narrative continued to weigh on government bond yields as the 10-year Treasury yield jumped above 4.6% at one-point last week, its highest since 2007. Thank you for listening and for further investment insights head over to ahrprivatewealth.com.