Week of October 24, 2022
There was a great deal of market “noise” this week with equity prices bouncing off recent lows, but no definitive change in any Signals. The plenum in China yielded no surprises as Xi Jinping muscled in another term. Putin is struggling with Ukraine, the Ayatollah is on the ropes in Iran, and Biden is being mugged by price increases. The upcoming US Midterm elections bear watching – capital markets will take their cue accordingly.
Bob Bilkie, CFA