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World Wrap

World Wrap

– Global equities were flat, while Commodities advanced and prices on US Treasuries declined.
– Nine of eleven sectors moved higher, but declines in Technology and Consumer Discretion stocks were enough to hold back cap-weighted indices.
– Latin American stocks put in another strong performance, up more than 5% for the week.
– Crude Oil bounced more than 5% during the week, but prices are still down more than 25% from June highs.

World Wrap

World Wrap

– Jerome Powell’s hawkish comments sent global financial markets lower, while Treasuries rallied. Commodities also moved higher on a rebound in oil prices.
– Dow Transports finished the week flat, and Energy was the only sector to close in the green rebounding 1.8% after an 8% decline the week prior.
– While volatile, Latin American stocks have been a safe haven in 2023, with MSCI Latin America Index returning more than 5% ytd.
– The Federal Reserve raised the Fed Funds rate target to 4.5%, the highest rate in more than 15 years.

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Market Risk Index

Market Risk Index scales from 0 to 100%. Higher readings correspond with higher risk markets. Scores below 25% are bullish. Scores between 25-75% are neutral, and scores above 75% are markets vulnerable to major drawdowns.

Model Category Readings (Percentiles)

  • Psychology 99.7% 99.7%
  • Monetary 87.2% 87.2%
  • Valuation 99.3% 99.3%
  • Market Trend 9.8% 9.8%