Market Minutes Recap - Market Update (Perspectives on the Purchasing Manager’s Index, the recent U.S. presidential election, the equities and bond markets, and the recent FOMC meeting)

In this week's jam-packed Market Minutes recap, hear from our team of experts as they share their perspectives on the latest economic reports. Our panel shares detailed insights into the Purchasing Manager’s Index, the recent U.S. presidential election, the equities and bond markets, and the recent FOMC meeting.

Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
Cindy Honcharenko, Director of Fixed Income Portfolio Management
George Mateyo, Chief Investment Officer
Rajeev Sharma, Head of Fixed Income
Stephen Hoedt, Head of Equities

02:33 – The Purchasing Manager’s Index (PMI) was released for both manufacturing, showing a continuous decline, and for services, showing a continuous expansion reporting the highest read since July 2022

04:17 – Comments on the recent U.S. presidential election and the outcome of the president elect

07:45 – Comments on how the recent U.S. presidential election may affect the equities market and the performance we might expect to see for the next 4 years

11:57 – Despite the equities market cheers regarding the U.S. presidential election results, the bond market is preparing for the new administration’s fiscal policy that may lead to higher debt and deficits with a risk of a rise in inflation

14:43 – A recap of Thursday’s Federal Open Market Committee (FOMC) meeting and their decision to cut the federal funds rate by 25 basis points, making the new target rate the range of 4.50% – 4.75%

18:20 – Final thoughts on Federal Reserve Chairman, Jerome Powell’s statement: “with reference to interest rates cuts, we are on the right path, but we don’t yet know the right pace” as well as the Federal Reserve’s independence

Additional Resources

Key Questions: The Yield Curve Has Un-inverted. Now What? | Key Private Bank

Key Questions | Key Private Bank
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