Globe Advisor

August 12, 2022
Latest market wrap

BRENDAN MCDERMID/Reuters

Global equity markets rose while U.S. Treasury yields fell on Friday as investors tempered their expectations of the scale of the Federal Reserve’s interest rate raising cycle as falling oil prices helped to cool inflation.

Market sentiment has been buoyed by U.S. Labor Department data this week showing a slowdown in consumer and producer prices in July following a series of interest rate hikes by the Fed.

“With inflation now backing off, all the managers who stayed in cash and didn’t believe we could move off the June lows are now being forced back into the market,” said Thomas Hayes, chairman at Great Hill Capital.

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