Weekly Market Recap – March 3, 2023 Mortgage rates in the US rose for the fourth consecutive week as inflation concerns remain. Currently, 6.6% is the average rate for a 30-year fixed mortgage, which had been trending downward after hitting 7.08% in November. Eli Lilly announced it would cap out-of-pocket insulin costs at $35 for

Weekly Market Recap – February 24, 2023 President Biden made a surprise visit to Kyiv to meet with President Zelensky four days before the one-year anniversary of Russia’s invasion. Vladimir Putin stated he would suspend Russia’s participation in the New START treaty, which limits the U.S. and Russia to 1,550 nuclear warheads each. Blizzard warnings

Weekly Market Recap – February 17, 2023 The Congressional Budget Office issued its forecast on Wednesday for a $19 trillion debt increase by 2033. The rising costs stem from projected interest payments, veterans’ health care, retiree benefits, and the military. Nikki Haley, former South Carolina governor, and U.N. ambassador announced her candidacy for the Republican

Weekly Market Recap – February 10, 2023 As the week progressed, news about the 7.8 earthquake that spanned the Turkey-Syria border grew worse daily; the death toll has exceeded 34,000. Another continuing story has been the series of unmanned flying objects shot down by the US military, starting with a Chinese balloon on February 5th.

Weekly Market Recap – February 3, 2023 Friday’s job data grabbed the headlines with the lowest US unemployment rate since 1969. Major central banks continue their efforts to combat inflation: the Bank of England increased rates half a percentage point to 4%, and the Fed raised its benchmark rate by a quarter point to a

Weekly Market Recap – January 27, 2023 On Monday, a massive grid failure of Pakistan’s aging power network created a nationwide outage; the entire population of 220 million people was without electricity for 18 hours. The US and Germany each announced Wednesday they would equip Ukraine with tanks, reversing their longstanding position of providing Kyiv

Weekly Market Recap – January 20, 2023 On Thursday, the US debt ceiling ($31.4 trillion) was hit without being addressed by any relevant actions by the House of Representatives. Treasury Secretary Janet Yellin warned of a global financial calamity if a debt limit agreement is not reached. Microsoft announced it would lay off 10,000 workers,

Weekly Market Recap – January 13, 2023 Treasury Secretary Janet Yellin warned of a potential default on US debt if lawmakers fail to act on the debt ceiling prior to the January 19 deadline. A massive FAA software glitch grounded thousands of flights across the country, causing a complete shutdown of U.S. airspace. Areas of

Weekly Market Recap – January 6, 2023 In the U.S. House of Representatives, it took fifteen ballots to secure Kevin McCarthy’s speakership, which dominated the news most of the week. There are new COVID concerns as health experts track the abrupt rise of XBB.1.5, the latest Omicron sub-variant. In northern California, torrential rains caused rivers

Weekly Market Recap – December 30, 2022 On Thursday, President Biden signed the $1.7 trillion package to fund the government into next fall. In response to the G7’s $60 price cap on Russia’s oil, President Putin announced a ban on oil exports to any country that supported that pricing limit. This week saw an acceleration