Beyond Markets

After Jerome Powell’s speech at Jackson Hole on Friday, the futures market’s odds for a rate hike at the September FOMC meeting rose from 18% to 21%, and from 35% to 42% at the November meeting. Yet the Wall Street Journal’s interpretation was largely dovish, noting the phrase “proceed carefully” was used twice. JP Morgan Chase’s card tracker is indicating that August retail sales will likely be down month on month, which would be welcome after July’s big increase. August is on average not a stellar month for the S&P 500 index, nor is September or even October. It’s only in November on average that stocks get lift off into the year end.

What is Beyond Markets?

“Beyond Markets” by Julius Baer is a series featuring conversations with experts to share recent market developments, key insights, and strategic inputs from around the globe. In each episode, we cut through the noise to offer practical advice and macro research on today’s shifting economic and market landscape.
The information contained in this podcast is marketing material. Opinions expressed do not constitute independent financial/investment research, investment advice, or an offer to buy or sell securities by Julius Baer. Please refer to www.juliusbaer.com/legal/podcasts for important legal information prior to listening to this podcast.