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In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel shares detailed insights into the recent GDP report and inflation data. Our experts also discuss the private credit market and its benefits for investors.
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
George Mateyo, Chief Investment Officer Rajeev Sharma, Head of Fixed IncomeAther F. Bajwa, CFA,® CPA, Director Investment Research
01:24 – Remarks on GDP for the first quarter of 2024, which came in at an annualized rate of 1.6%, down from the previous quarter, and comments on the contributors. 
04:21 – Reaction to the overall GDP and PCE inflation data from PCE, and what it means for the economy. 
07:31 – Comments on the labor market, rate cuts, and the upcoming FOMC meeting. 
11:42 – Discussion on the private credit market and its benefits for investors.

Additional Resources:
Key Questions: Private Credit: What Is It and Should You Add It to Your Portfolio? | Key Private BankWhite paper: An Introduction to Investing in Private Credit | Key Private Bank
Key Questions | Key Private BankSubscribe to our Key Wealth Insights newsletter
Economic & Market ResearchWeekly Investment BriefFollow us on LinkedIn

In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel shares detailed insights into the retail sales report, the equities market, and the Fed. 
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
George Mateyo, Chief Investment Officer Rajeev Sharma, Head of Fixed IncomeSteve Hoedt, Head of Equities 
01:24 – The retail sales report for March was reported at 0.7% and the report for February was revised from 0.6% to 0.9%
03:37 – As the market is experiencing a slight decline, we hear comments on what may be influencing this shift
07:42 – Comments about the geopolitical events that may be having an effect on the equities, gold, and oil markets
10:19 – Remarks about Fed Chair Powell’s comments made earlier in the week regarding taking a step-back on the anticipated rate cuts for the year; though the market initially expected 7 rate cuts, the Fed may only implement 1-2 rate cuts
13:05 – Final comments about keeping investments diversified

Additional Resources:
Key Questions: It’s April, Why is the College Admission Season in Disarray? | Key Private Bank KeyBank National Call Replay
Key Questions | Key Private BankSubscribe to our Key Wealth Insights newsletter
Economic & Market ResearchWeekly Investment BriefFollow us on LinkedIn

In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel shares detailed insights into the CPI Inflation report, yields, earnings outlook, and KeyBank’s National Call this week. 
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
George Mateyo, Chief Investment Officer Rajeev Sharma, Head of Fixed IncomeSteve Hoedt, Head of Equities 
02:10 – The Consumer Price Index (CPI) Inflation report was released and it showed a visible increase in inflation of 3.5% in March year-over-year from 3.2% in February 
06:14 – Comments on the unexpected CPI Inflation report and how it seems to be generating a flatter yield curve as well as it may cause delays in anticipated rate cuts
11:29 – Though the market has been seeing inflation and growth running ‘hotter’ for longer, the CPI Inflation report may produce some challenges in earnings expectations 
14:49 – Recap on KeyBank’s National Call earlier this week and what clients may want to know with regard to the economy, the banking sector and commercial real estate

Additional Resources:
Key Questions: Who Was Daniel Kahneman and How Did He Change the Way We Think About Investing? | Key Private Bank KeyBank National Call Replay
Key Questions | Key Private BankSubscribe to our Key Wealth Insights newsletter
Economic & Market ResearchWeekly Investment BriefFollow us on LinkedIn

In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel shares detailed insights into PMI data, employment data, the Fed, yields, early thoughts on earnings season, and oil prices.
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
George Mateyo, Chief Investment Officer Rajeev Sharma, Head of Fixed IncomeSteve Hoedt, Head of Equities 
01:41 – The Purchasing Managers’ Index (PMI) data showed the manufacturing side of the economy moved into an expansionary phase in March, while the services side of the economy has been expanding during the past 4 years
04:30 – Based off today’s employment report, the Fed may start to recalibrate its policy due to the economy’s strength
06:49 – Remarks about the 10-year Treasury yield and how investors hope it will not rise back to the 4.50% resistance point 
11:15 – Based on the PMI data, we believe it is currently a macro-driven market that is reinforcing strong growth and corporate earnings
13:59 – Comments on the recent increases in oil and gas prices

Additional Resources:
Key Questions: Will the Fed Achieve Complete “Inflation Totality”? | Key Private Bank
Key Questions | Key Private BankSubscribe to our Key Wealth Insights newsletter
Economic & Market ResearchWeekly Investment BriefFollow us on LinkedIn

In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel shares detailed insights into existing-home sales, the FOMC meeting, rate cuts, The Wealth Effect, and the equities market.
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
Cindy Honcharenko, Director of Fixed Income Portfolio ManagementGeorge Mateyo, Chief Investment Officer Rajeev Sharma, Head of Fixed IncomeSteve Hoedt, Head of Equities 
01:42 – For the month of February, existing-home sales surged 9.5% month-over-month, and this level of an increase has not been seen since February of 2023 
03:06 – Comments on the FOMC meeting that took place earlier in the week, resulting in the Fed deciding they will keep rates unchanged
07:52 – During the FOMC meeting, the Fed revealed the Dot Plot and its Summary of Economic Projections. This came as a relief for the market as it signified the Fed continues to forecast three rate cuts for 2024 instead of only two
11:52 – Though the FOMC meeting did not discuss The Wealth Effect, we hear comments surrounding this concept
14:59 – Remarks about the FOMC meeting’s influence on the equities market  

Additional Resources:
Key Questions: Are Renewed Banking Fears Something to Fear? | Key Private Bank
Key Questions | Key Private BankSubscribe to our Key Wealth Insights newsletter
Economic & Market ResearchWeekly Investment BriefFollow us on LinkedIn

In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel shares detailed insights into the Retail Sales report, CPI inflation, rate cuts, the equities market, and the one-year anniversary of 2023 banking sector disruption.
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
George Mateyo, Chief Investment Officer Rajeev Sharma, Head of Fixed IncomeSteve Hoedt, Head of Equities Ester Lau, Senior Credit Analyst
01:38 – According to the Census Bureau, Retail Sales increased 0.6% for the month of February, however January’s figures were revised downward from -0.8% to -1.1%
02:33 – The Consumer Price Index (CPI) inflation report showed an increase of 0.4% for the month-over-month in February and 3.8% year-over year in February 
06:55 – While the CPI data were hotter than expectations, the big question we can assume the Fed is facing is does the CPI data alter any decisions for 2024 rate cuts?
09:59 – Remarks about the CPI data’s effect on the equity market; much of the market seems to be in a “sweet” spot
13:57 – A look back to a year ago as March marks the one-year anniversary since the collapse of a few notable banks in 2023 

Additional Resources:Key Questions: Is the Tax Preference for my 401(k) Safe? | Key Private Bank Key Questions | Key Private BankSubscribe to our Key Wealth Insights newsletter
Economic & Market ResearchWeekly Investment Brief
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