Rui MR Pinto

Summary and Comment This was a FED week (FOMC meeting and interest rate decision) which was marked by the interest rate pause (kept at 5.25%) and the promise for more rate hikes in the US later in the year. In the EU, reference interest rates rised another 0.25% (25bps). Overall inflation data in the US […]

Summary and Comment The GDP report released on Thursday showed a mixed performance across Europe. Southern European economies including Spain, Italy and Portugal posted strong growth rates. Germany and the Netherlands shrank and France grew only mildly. Since spring, Europe’s overall economy has picked up the pace slightly, and the ​​European Commission has lifted its

Summary and Comments The US debt ceiling talks are over and the default disgrace has been avoided with the passing of the Fiscal Responsibility Act (FRA) by the House and the Senate. The act suspends the debt ceiling until Jan. 1, 2025, in exchange for certain spending cuts, restraints and other provisions. The act was

Summary and Comment The debt ceiling saga continues, but this Saturday there have been some positive developments. Biden calls tentative agreement ‘an important step forward’ but deal still needs to receive approval from a divided Congress. More to come in the next couple of days. Core PCE prices in the US, which exclude food and

Summary and Comment The debt ceiling news are getting more intense as the June deadline approaches. No agreement in sight yet… Retail sales and building permits flatten, signaling a slowing economy. Some real estate markets are also starting to cool down. Unfortunately, this week, Sam Zell, the billionaire investor who called himself “the Grave Dancer”

Summary and Comment The University of Michigan consumer sentiment for the US fell to a six-month low of 57.7 in May of 2023. “While current incoming macroeconomic data show no sign of recession, consumers’ worries about the economy escalated in May alongside the proliferation of negative news about the economy, including the debt crisis standoff“,

Weekly Market News and Comments   “The second and third biggest bank failures in US history have followed in quick succession. The US Treasury and Federal Reserve would like us to believe that they are “idiosyncratic”. That is a dangerous evasion. Almost half of America’s 4,800 banks are already burning through their capital buffers. They

Summary and Comment This week, First Republic Bank failed and was sold to one of the US Big Banks. The banking system consolidation is ongoing. Is there going to be a credit crisis? Maybe. Keep some cash on hand, in case of a market crash (so that you can buy cheap stuff!!!). Regarding economic indicators,

Summary and Comment This was yet another calm week on the US markets, with no special economic highlights except for the preliminary estimate of building permits, which tumbled 8.8 percent to a seasonally adjusted annual rate of 1.413 million in March 2023. Over in China, the economy advanced 4.5% YoY in Q1 of 2023, accelerating

Summary and Comment Another calm week on the markets, with news of slowing CPI in the US (0.1% MoM) and US retail sales falling more than expected. The producer prices for final demand in the US (PPI) fell 0.5% MoM in March of 2023, the biggest decline since April of 2020. The economy is slowing,