World Markets Update: September 26, 2022
All eight indexes on our world watch list posted losses through September 26, 2022. The top performer is India's BSE SENSEX with a YTD loss of 1.9%. London's FTSE 100 is in second with a loss of 4.92% and Tokyo's Nikkei 225 is in third with a loss of 8.20%. Coming in last is Germany's DAXK with a loss of 25.47% YTD.
Dallas Fed Manufacturing Growth Up in September, But Demand Down
The Dallas Fed released its Texas Manufacturing Outlook Survey (TMOS) for September. The latest general business activity index came in at -17.2, down 4.3 from last month. All figures are seasonally adjusted.
Chicago Fed: "Index suggests economic growth moderated in August"
Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) decreased to a neutral value in August from +0.29 in July. Three of the four broad categories of indicators used to construct the index made positive contributions in August, but three categories deteriorated from July. The index’s three-month moving average, CFNAI-MA3, moved up to +0.01 in August from –0.08 in July
Stale Pricing and the Risk to Bond Fund Investors
Bond mutual funds trade daily and are highly liquid, but the underlying securities are often highly illiquid, trading very infrequently. This mismatch means that bond fund pricing is unreliable, creating risks, especially for buy-and-hold investors.
Student Loan Forgiveness Plan and Inflation Reduction Act: Are These New Policies Inflationary or Deflationary?
Inflation is top of mind for consumers and market participants. In the United States, many are questioning whether student loan forgiveness will make inflation worse, and if the recently passed “Inflation Reduction Act” will offer relief.
Kansas City Fed Mfg Survey: Growth Decelerates in September
The latest index came in at 1, down 10 from last month, indicating "slow" expansion in September and its lowest since July 2020. The future outlook fell to 9. All figures are seasonally adjusted. Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.
SEC Set to Let Wall Street Keep Payment-for-Order-Flow Deals
The US Securities and Exchange Commission will stop short of banning payment for order flow, a controversial way to process retail stock trades, as it proposes new rules for the $48 trillion American equities market.