A Positive Scenario for 2023
What’s in Today’s Report:
- Bottom Line – There’s a Positive Scenario for 2023, Too
- Weekly Economic Cheat Sheet: Focus on Jobless Claims
U.S. equity futures are tracking global markets higher while the dollar is lower in risk-on trading this morning following more positive reopening news out of China.
China will end its eight day quarantine for inbound travelers on January 8th and scrapped international flight limits in the latest move away from Covid-Zero which is bolstering the outlook for global growth in the months ahead and markets are responding favorably to the news.
Today, there are three economic reports due to be released: International Trade in Goods (E: -$97.0B), Case Shiller Home Price Index (E: -1.2%), and FHFA House Price Index (E: -0.5%) but none of them should meaningfully impact the outlook for Fed policy and therefore are likely to have a limited impact on stocks.
There are no Fed speakers today but the Treasury will hold a 2-Yr Note auction at 1:00 p.m. ET. If demand is weak and yields rise following the auction, that could weigh on equities as it would be a mildly hawkish signal from the fixed-income market as we approach the end of the year.
Sevens Report Q4’22 Quarterly Letter Coming January 3.
The Q4 2022 Quarterly Letter will be delivered to advisor subscribers on Tuesday, January 3.
Especially given all the volatility in 2022 and continued challenges for markets, we think the start of the year is a critically important time to communicate with clients and prospects.
We will deliver the letter on the first business day of the quarter because we want you to be able to send your quarterly letter before your competition (and with little-to-no work from you).
You can view our Q3‘22 Quarterly Letter here.
If you’d like to learn more or are interested in subscribing, please email info@sevensreport.com.
