The idea of a slowdown in the rate hike strengthens in the markets
The markets continue to look at the health of the economy on the one hand and the words of the central bank governors on the other. Thus the idea of a slowdown in the rate hike is reinforced, and on the other hand there is increased attention to the trend of the first big shopping event of the winter season: black friday.
On the macro front, the week just gone has sent worrying signals for Great Britain, with inflation still rising and the labour market showing the first signs of cooling.
In the past week, 45% of the instruments and indices used for our analysis recorded a positive change. 54% experienced a negative change. Analysing by macroclass, 46% of equity instruments and indices recorded a positive weekly change. 57% of bond instruments and 9% of the other asset classes used for our analysis.
Improving valuations in the past week accounted for 29.6% of the total. The previous week, upwardly adjusted valuations were 46.4% of the total.
Among the equity analyses, improving valuations accounted for 26% of the total, a slower pace than in recent weeks.
Among the bond analyses, improving valuations accounted for 73% of the total. This shows that in the bond segment, the positions of those who believe that a change of scenario on the monetary policy front is imminent, with a slowdown in the rate hike phase, are increasing.
Among analyses relating to other asset classes, improving valuations accounted for 18.75% of the total. This type of analysis included commodities, derivatives and currencies.
Of the valuations, 31.2% were above the short-term average. Of the valuations, 40.8% were above the long-term average. Last week it was 40% and 46% respectively.
