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AHR Weekly Market Update - Monday 6th November
Manage episode 382354520 series 2891086
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On this week’s AHR Market review..
Equity markets posted one of their biggest weekly gains of the year as key central bank rate decisions and cooler than expected US labour data drove markets forward.
Early last week, the US Federal Reserve unanimously voted to maintain its benchmark interest rate at a range of between 5.25% and 5.5%, a 22-year high.
Another key decision during the week saw the Bank of England hold interest rates at a 15-year peak on Thursday and rule out cuts any time soon as it fights to "squeeze out of the system" the highest inflation of the world's big rich economies.
Late last week the US labour department's closely watched employment report showed the US unemployment rate rising to 3.9% last month, the highest level since January 2022.
On the back of the US Fed rate pause and softer than expected labour data, US technology stocks surged 6.6%, whilst the broader US market added 5.9%.
Fixed Income markets also rallied off the back of the week’s key events, the yield on the benchmark 10-year U.S.
That’s all for this week’s AHR Weekly Podcast. Thank you for listening and for further investment insights head over to ahrprivatewealth.com.
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