QVMM - Steering Through Market Air Pockets
2024-07-29 14:05:00 ET
Summary
- We see recent market volatility tied to near-term sentiment shifts rather than corporate earnings and macro data. We prefer to look through these air pockets.
- U.S. stocks fell for a second straight week, with the S&P 500 suffering its largest one-day drop since late 2022. Risk assets made up some ground by week’s end.
- The Federal Reserve, Bank of Japan and Bank of England all meet this week. The Fed may signal a first cut in September, while the BOJ could hike again.
Transcript
In addition to summer seasonality, there are three drivers of markets right now. Number one, Fed repricing; number two, what’s happening to the yen; number three, what’s happening to earnings....
Steering Through Market Air Pockets