Economy and Markets: The Week Ahead
This week, investors’ attention will be evenly split between the Q3 2023 reports for several market-moving companies, and the pivotal economic reports that are scheduled to be published in the next few days.
Last Friday, stocks closed another dismal week even though Jerome Powell as much as promised that the Federal Reserve will refrain from lifting rates at its next meeting on November 1st. The Fed Chair said that a surge in long-term Treasury yields over the past month led to a sharper tightening in financial conditions, effectively replacing another Fed hike in terms of their economic impact. 10-year Treasury yields are used as a benchmarks for mortgages, credit cards, and various loans.
Despite a strong indication of another pause in rate increases, Powell reiterated that interest rates will be kept higher for longer, as…
