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In earnings this week, bank revenues tended to expand while profit margins tended to contract. Kwasi Kwarteng fired as UK Chancellor, replaced by Jeremy Hunt. In economic data, US inflation once again comes in above expectations, though seesaw markets on Thursday helped the SPX end week down just 87 points. Michigan Consumer Sentiments survey improved.
Asset classes down across the board, though bond market most sold off due to a whipsaw in equity markets Thursday.
Dollar continues to extend gains, Yen, AUD and CHF pairs looking particularly drawn out.
Commodities soften as markets continue to gradually price in lower demand in near future. Energy probably most resilient.
Curve moves higher, 2-10 inversion worsens slightly.
30 year rate index hits 7%.