Weekly Market Report (11 Sep 23)

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News Last Week

Long-term bond yields reach a 15-year high with the Federal Reserve's rate surging to between 5.25% and 5.5%.
Significant proportion of federal debt due within five years; some regional banks already facing collapse.
Corporates grappling with increased refinancing costs, potentially hampering growth and hiring.
Individuals facing higher rates on credit cards and auto loans.
Retirees seeing better returns on safer investments like bonds and CDs.
Chinese government introduces measures to boost the declining property sector, causing an increase in Asian stock markets, including gains of 1.4% in the Shanghai Composite Index and 2.5% in Hong Kong’s Hang Seng Index.
Relaxation of mortgage requirements in major cities and restructuring of an upcoming bond payment by Country Garden contribute to a surge in shares of Chinese property developers.
Diesel prices surge by over 40% in the U.S. and Europe following unexpected oil production cuts by Saudi Arabia and Russia, resulting in increased trucking and consumer costs.
Europe experiencing a strain due to reliance on Russian oil, especially amidst post-Ukraine invasion sanctions.
Trading activity surges around diesel, with a significant interest in heating-oil futures from leveraged funds.

Critical economic updates including the latest inflation readings (CPI) for August, which will offer insights into the current economic trends and potential future trajectories.