The Pulse on the Economy and Capital Markets: Oct 11 – Oct 15, 2021

October 19, 2021

At a glance:

  • Overall, markets showed a strong start to earnings season as bank executives are positive about the health of the economy.
  • It’s a good week to be an investor as markets were higher across the board. All reporting banks noted the performance of loans and credit risks are improving. JPMorgan Chase increased their loans by 5% for the second consecutive quarter. It’s expected other banks will soon follow their lead.
  • Bitcoin and copper rallied on rising inflation. Historically, copper moves with inflation expectations and this week copper was up nearly 16% month-to-date. Bitcoin has also traded higher with inflation expectations up nearly 44% since the end of September.
  • Staffing and labor shortages remain for small businesses and consumer-related industries as they face higher than average 4.6% unemployment rates. Labor participation rates remain below pre-COVID levels as the number of women in the workforce declines due to a lack of work-life flexibility.
  • Meanwhile, we are reading about a potential halt in the housing market if rates rise as little as four percent, the CEO of JPMorgan Chase optimism about of the US economy, Zillow’s pivot into tech-powered house-flipping hitting a snag and Apple’s plans to cut iPhone 13 production by as many as ten million due to chip shortages.

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About the Author

Simeon Wallis

Chief Investment Officer At Aprio Wealth Management At Aprio Simeon is the Chief Investment Officer of Aprio Wealth Management and the Director of Aprio Family Office. Simeon brings two decades of professional investing experience in publicly traded and privately held companies, as well as senior-level operating and strategy consulting experiences.