Markets in 5 Charts – Week Ending 10/28/22

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Weekly Headlines:

Rishi Sunak becomes prime mister of the UK. US markets trended higher over the week as earnings continue. Some oil company earnings in particular hit record levels. US home sales come slightly above expectations in September. US GDP comes out at 2.6% growth in the third quarter. PCE spending above expectations.

Flows:

Charts

Bond markets get bought along with equities and commodities this week.

In equity sectors we see how the utilities and staples trade has faded, perhaps as stock picking makes a return.

Rate of new job postings in the US find a bottom in October.

Yields soften in the Treasury curve, though inversion strenghtens.

The 3mo – 10 yr spread fully capitulates to inversion this week.

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