PQSV News and Press, PGIM QMA Strategic Alpha Small-Cap Value ETF PGIM ETF Trust From 09/17/22

Summary Much of the recent strength in profit margins has been driven by price realizations. Resilient consumer demand has benefitted from a labor market that continues to run hot, and sufficient levels of personal income. We expect that the upcoming earnings season will featu...

Summary Despite all-time record revenues for August, spending jumped from $439B last August to $523B this August, a YoY increase of almost 20%. Interest Expense is the 6th largest budget expense, nearly $250B below the next expense of Medicare. The recent drop in Individual In...

Summary Inflation eases in France and the UK. U.S. inflation numbers unleash new round of market volatility. Are recession risks rising in the U.S. and Europe? On the latest edition of Market Week in Review, Equity Portfolio Manager Olga Bezrokov and Associate Direct...

Summary Changes in reserve balances are driving changes in market liquidity. Quarter end could drain liquidity further. Lower levels of liquidity could result in lower stock market prices. Liquidity may become a significant market issue over the next two weeks as we ...

Summary The preliminary September results show overall consumer sentiment edged higher in early September, but remains at historically low levels. The one-year inflation expectations fell again in early September, dropping to 4.6 percent. Pessimistic consumer attitudes reflect...

Summary With inflation at the highest level in decades and volatility continuing to surge, equity investors are questioning their next moves. At the beginning of the year, financial conditions were very loose by any means historically, and we've very rapidly moved from loose finan...

Summary Real total returns over the next decade are near zero at current valuations. From current valuation levels, the expected rate of return for investors over the next decade will be low. While artificial interventions can delay and extend the cycles, the reversion will ev...

Summary Since the start of the year my largest position has been cash. Cash rarely performs well but it has performed well in 2022 and now the yield on the 3-month Treasury is over 3%. Monetary policy continues to be restrictive which further supports cash over risk assets. ...

Summary The move lower in jobless claims pressed on this week as the seasonally adjusted reading dropped another 5K down to 213K in addition to last week’s reading being revised 4K lower to 218K. Although the continued decline in seasonally adjusted claims have not resulted...

Summary Starting today, the US Fed has pledged to run off its balance sheet by $95 billion a month. Fed fund futures predict that US policy rates will move to 3%-3.25% next week and 4.25%-4.5% by early 2023. Bond yields and interest rates should be topping out if a Fed pause c...