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AHR Weekly Market Update - Monday 15th January
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On this week’s AHR Market review.
Equity and bond markets posted positive returns over the week despite a higher than expected inflation reading from the US.
The main focus of the week was the release of US CPI data, which showed an annual increase of 3.4% in December, slightly higher than the previous months reading of 3.1%.
Over half of the overall increase in inflation was attributed to shelter costs.
As earnings season in the US begins, banks kicked off, with three of the biggest institutions reporting that fourth-quarter net income fell relative to the same quarter a year earlier.
In the US equity markets closed the week within touching distance of their all time highs, posting a 1.8% return and 3.1% for the US technology sector.
Fixed income investors appeared unmoved by the modest upside surprises in the consumer inflation data, with the yield on the benchmark 10-year U.S. Treasury note falling back below 4% over the week.
Heightened geopolitical tensions in the Middle East fuelled a modest rally in oil prices on Friday. U.S. crude was trading around $73 per barrel, up from a recent low of around $68 on December 12.
That’s all for this week’s AHR Weekly Podcast. Thank you for listening and for further investment insights head over to ahrprivatewealth.com.
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