Market Minutes Recap - Market Update (Perspectives on the Purchasing Manager’s Index, the recent U.S. presidential election, the equities and bond markets, and the recent FOMC meeting)

In this week's jam-packed Market Minutes recap, hear from our team of experts as they share their perspectives on the latest economic reports. Our panel shares detailed insights into the Purchasing Manager’s Index, the recent U.S. presidential election, the equities and bond markets, and the recent FOMC meeting.

Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
Cindy Honcharenko, Director of Fixed Income Portfolio Management
George Mateyo, Chief Investment Officer
Rajeev Sharma, Head of Fixed Income
Stephen Hoedt, Head of Equities

02:33 – The Purchasing Manager’s Index (PMI) was released for both manufacturing, showing a continuous decline, and for services, showing a continuous expansion reporting the highest read since July 2022

04:17 – Comments on the recent U.S. presidential election and the outcome of the president elect

07:45 – Comments on how the recent U.S. presidential election may affect the equities market and the performance we might expect to see for the next 4 years

11:57 – Despite the equities market cheers regarding the U.S. presidential election results, the bond market is preparing for the new administration’s fiscal policy that may lead to higher debt and deficits with a risk of a rise in inflation

14:43 – A recap of Thursday’s Federal Open Market Committee (FOMC) meeting and their decision to cut the federal funds rate by 25 basis points, making the new target rate the range of 4.50% – 4.75%

18:20 – Final thoughts on Federal Reserve Chairman, Jerome Powell’s statement: “with reference to interest rates cuts, we are on the right path, but we don’t yet know the right pace” as well as the Federal Reserve’s independence

Additional Resources

Key Questions: The Yield Curve Has Un-inverted. Now What? | Key Private Bank

Key Questions | Key Private Bank
Subscribe to our Key Wealth Insights newsletter

Economic & Market Research
Weekly Investment Brief
Follow us on LinkedIn

What is Key Wealth Matters?

Key Wealth Matters, a podcast series hosted by the experts of the Key Wealth Institute, explores the biggest news of today to determine how these headlines can impact wealth plans, financial strategies, markets, and investments.

Join our team of advisors for unbiased, proactive advice about individual and family finances, estate and legacy planning, family dynamics, investing, as well as trends for business owners, nonprofits, and institutions.

To submit potential topics or questions to our experts, contact us via email at [e-mail].

For more information, articles, or other insights related to wealth management, visit key.com/ourinsights.

The Key Wealth Institute is comprised of financial professionals representing Key entities including Key Private Bank, KeyBank Institutional Advisors, and Key Investment Services. Any opinions, projections, or recommendations contained herein are subject to change without notice and are not intended as individual investment advice.

This material is presented for informational purposes only and should not be construed as individual tax or financial advice. Bank and trust products are provided by KeyBank National Association (KeyBank), Member FDIC and Equal Housing Lender. Key Private Bank and KeyBank Institutional Advisors are part of KeyBank. Investment products, brokerage and investment advisory services are offered through Key Investment Services LLC (KIS), member FINRA/SIPC and SEC registered investment advisor. Insurance products are offered through KeyCorp Insurance Agency USA, Inc. (KIA). KIS and KIA are affiliated with KeyBank.

Investment and insurance products are:
NOT FDIC INSURED • NOT BANK GUARANTEED • MAY LOSE VALUE • NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY
KeyBank and its affiliates do not provide legal advice. Individuals should consult their personal tax advisor before making any tax-related investment decisions.

©2023 KeyCorp®. KeyBank Member FDIC. 230327-1991928