Market Minutes Recap - Market Update (Perspectives on PMI data, employment data, Fed rate cuts, and the stock and bond markets)

Key Wealth Matters

In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel shares detailed insights into PMI data, employment data, Fed rate cuts, and the stock and bond markets.

Speakers:

Brian Pietrangelo, Managing Director of Investment Strategy

George Mateyo, Chief Investment Officer
Rajeev Sharma, Head of Fixed Income
Stephen Hoedt, Head of Equities

01:37 – The Manufacturing Purchasing Manager’s Index (PMI) was reported at a lower figure for the month of May, which is also down from the month of April, revealing a slowdown in the economy

02:48 – Comments on the recent employment data released this week, and how it may contribute to the Fed postponing a rate cut in July

05:07 – As economic data was released this week, yields were affected causing a spike in the 2 Year Treasury yield and an 8-point basis jump, essentially confirming there will be no rate cut in July

09:02 – While the U.S. plans to stay higher for longer, international markets like the European Central Bank (ECB) implemented a rate cut this past week as they’re willing to cut first and await the outcome

10:22 – While the U.S. economy seems to be diversified, the stock market is not, as the spotlight appears to be on tech companies, such as NVIDIA, since they have been contributing to an increase in gains with the S&P 500 and an increase in earnings

15:46 - 17:34 – Final remarks about continuing to stay focused on quality portfolios and staying diversified

Additional Resources

Key Questions: How Much Longer Can the US Consumer Carry the Economy? | Key Private Bank

Key Questions | Key Private Bank
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