The Pulse on the Economy and Capital Markets: Oct 4 – Oct 8, 2021

October 12, 2021

At a glance:

Markets rise in “basic industries” as bonds declined from higher rates. Service companies remain strong and the data shows people returning to the office at higher levels. Market expectations are high for Q3 earnings as public company earnings continue to reveal the true impact that supply chain challenges, inventor levels and inflation have had on profits.

  • Overall, keep your eyes on the US 10 Year Treasury bond yield as it moves higher. Bonds are likely to continue to sell off while stocks from basic industries perform well.
  • High-frequency data shows workers are back to work in the office in increasing numbers. Service companies remain strong with improving outlook. Both trends reverse the summer regressions caused by the Delta strain.
  • Investors have been skittish as companies face challenges from supply chain constraints and inflation. As earning season starts we will learn how profits and margins will be impacted.
  • Meanwhile, we are reading about a war brewing among New York and Texas to attract bitcoin miners, office and mall vacancy rates decrease, a breakthrough on the landmark global corporate tax rate and how digital mapping is a real estate game-changer.

Related resources:


Investment advisory services are offered by Aprio Wealth Management, LLC, a Securities and Exchange Commission Registered Investment Advisor.  Opinions expressed are as of the current date (October 12th, 2021) and subject to change without notice. Aprio Wealth Management, LLC shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, the information, data, analyses or opinions contained herein or their use, which do not constitute investment advice, are provided as of the date written, are provided solely for informational purposes and therefore are not an offer to buy or sell a security. This commentary is for informational purposes only and has not been tailored to suit any individual. References to specific securities or investment options should not be considered an offer to purchase or sell that specific investment.

This commentary contains certain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially and/or substantially from any future results, performance or achievements expressed or implied by those projected in the forward-looking statements for any reason.

No graph, chart, or formula in this presentation can be used in and of itself to determine which securities to buy or sell, when to buy or sell securities, whether to invest using this investment strategy, or whether to engage Aprio Wealth Management, LLC’s investment advisory services.

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About the Author

Simeon Wallis

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.