Week 29 Equity Strategy by Paul Chew #DMN
· 17.07.2023 · 02:04:23 ··· ··· Monday ·· 1 (1)
PYTCH Media It was an everything rally week. Bonds, equities and commodities rallied primarily on news of lower inflation in the U.S. Headline inflation in the US rose 3% YoY in June, marking the lowest since March 21. Supporting the drop in inflation was a massive 17% YoY collapse in energy prices, while goods prices rose only 1.3%. There is more downside in energy with US gasoline retail prices down 18% YoY in July. The critical core inflation was up 4.8% YoY, the slowest pace in 19 months. The persistent issue is stubborn shelter inflation, climbing almost 8% YoY.
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