Weekly Market Recap – October 28, 2022 The average 30-year mortgage rate soared beyond 7%, its highest level since 2002. Britain’s Conservative Party selected Rishi Sunak as the next prime minister; he will be the youngest to serve as PM in two centuries. Elon Musk completed his $55 Billion deal to acquire Twitter; after taking

Weekly Market Recap – October 21, 2022 After six weeks as the British prime minister, Liz Truss resigned her post, making her the shortest-serving PM in the nation’s history. Her plans for tax cuts and deregulation had sent UK financial markets spiraling. Vladimir Putin declared martial law in four annexed Ukrainian territories, and Russia attacked

Weekly Market Recap – October 14, 2022 On Monday, Russia launched a barrage of missile attacks that hit Kyiv as well as ten other Ukrainian cities. According to President Putin, the strikes were in retaliation for the destruction of a section of the bridge linking Russia to the Crimean Peninsula. Tuesday’s report from the IMF

Weekly Market Recap – October 7, 2022 The U.S. gross national debt exceeded $31 trillion for the first time, nearing the statutory $31.4 trillion ceiling placed by Congress. Saudi Arabia and Russia, the leaders of the OPEC Plus cartel, announced a 2 million bbl. per day production cut, the largest in two years. North Korea

Weekly Market Recap – September 30, 2022 On Monday, the British Pound sank to a record low of £1.03 per USD. To bolster the UK economy, on Wednesday, the Bank of England announced a £65 billion long-term bond-buying program starting with the purchasing of £1.4 billion in 20 year gilts. Hurricane Ian made landfall in

Weekly Market Recap – September 23, 2022 Concerns about a global recession were sparked by the move by central banks around the world to raise interest rates and intervene in foreign exchange markets, putting pressure on stock investors to sell heavily. President Vladimir Putin accelerated his efforts in Ukraine, calling up 300,000 more Russian citizens

Weekly Market Recap – September 16, 2022 The prospect of an imminent railway strike captured the financial news headlines early in the week until Thursday when a solution brokered by the White House gave investors one less thing to worry about. Also this week, a significant milestone was reached in U.S. mortgage rates: the 30-year

Weekly Market Recap – September 9, 2022 Queen Elizabeth II died on Thursday at the age of 96. She was Britain’s longest-serving monarch, having reigned since 1952. Prince Charles ascended to the throne as King Charles III. Earlier in the week, Liz Truss started working as the United Kingdom\\\’s fourth prime minister since the Brexit

Weekly Market Recap – September 2, 2022 On Friday, the G7 agreed to place a price cap on Russian oil, in line with the West’s concerted efforts to use economic sanctioning to pressure President Putin. Hours after the G7 finance ministers announced this plan, Gazprom, the Russian-owned energy giant, stated that mechanical problems were forcing

Weekly Market Recap – August 26, 2022 On Wednesday, the six-month mark since Russia invaded Ukraine; President Putin ordered the Russian military to increase its forces by 137,000 new troops (+10%). In an unprecedented move to reduce carbon emissions, California announced plans to ban the sale of new gasoline-powered cars by 2035. The Biden administration