Carlsquare weekly letter: Is 5 the new wholly number, or do we need to go to 6?

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Carlsquare weekly letter 11 Oct 2022

Carlsquare weekly letter

• The stock market did not like the good numbers in the US job reports, as it will force Fed to continue to raise rates… Are a 5 per cent interest rate and 5 per cent unemployment in the US the cocktail Fed would like to serve us to eliminate inflation? New CPI data is due already tomorrow, Wednesday

• We see no end of the decline in the stock market yet. A temporary upwards wave during the autumn is likely, but the absolute bottom maybe occurs later in the winter. Look out for growth stocks and Emerging Markets, then!
• The reporting season in the US for Q3 has started. Unfortunately, on a sour note…

The graph below shows the evolution of the US unemployment rate (blue line) and the 10-year US Treasury yield (red line). Find out more in the Weekly Letter!

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