The Pulse on the Economy and Capital Markets: Sept 27– Oct 01, 2021

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The Pulse on the Economy and Capital Markets: Sept 27– Oct 01, 2021

At a glance:

Financial markets were weak signaling rising concerns about inflation. We received higher core inflation readings, excluding food and energy. We’re potentially seeing company earnings getting pinched, leaving fingers crossed awaiting 3rd quarter earnings.

  • Overall, both the bond and equity markets were down, but the S&P 500 saw a small gain in the 3rd quarter
  • The Personal Consumption Expenditures Core metrics signal inflation with a spike not seen since the early 90s.
  • Employee compensation Y0Y is highest since the early 80s, used car prices and commodities also point to inflation ahead.
  • Higher costs are potentially starting to impact company earnings. We’ll learn the extent of the impact in the next few weeks as companies announce 3rd quarter earnings.
  • Meanwhile, we are reading about the crash of Ozy Media, Ethereum’s tough September and rally opportunity, and how big tech will save office real estate.

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Disclosures

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