- Equity markets were challenged with another volatile week, alongside ongoing uncertainty in the U.K. and another sticky U.S. inflation report.
- The S&P 500 fell 1.6%, with gains in banks and consumer staples outweighed by declines in consumer discretionary and technology.
- The TSX gave back 1.4%, as 3%-plus slumps in energy and materials dragged on the index.
Bottom Line: The U.K. bond crisis is yet another reason why we’re bearish on Europe.
Bottom Line: Chipmakers may move another leg lower in the near term, but we see potential opportunities in the longer term.
Bottom Line: As long as markets continue to hope that the Fed will suddenly change its tune, we’ll continue to see knee-jerk reactions.
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