The US stock market has stabilized in recent weeks, but the downside bias still appears intact. Several risk factors support this outlook, including a weak technical profile; high inflation that will likely convince the Federal Reserve to continue raising interest rates; a rising if not yet decisive threat of a US recession; and the ongoing uncertainty/blowback for the global economy due to war in Ukraine.
Daily Archives: July 15, 2022
Macro Briefing: 15 July 2022
* China GDP growth slows to weak 0.4% annual increase in Q2
* China reports highest daily Covid cases in 7 weeks as lockdowns spread
* Italy in political crisis as prime minister urged to rethink resignation
* Joe Manchin, key Democrat vote in US Senate, rejects climate, tax measures
* US jobless claims rise to highest level in nearly 8 months
* Despite expectations of more Fed rate hikes, US 10yr yield holds below 3%:
