Financial News and Portfolio Management Discussion through April 16th

U.S. stocks declined for the week as surging inflation pushed equities lower, the S&P 500 declined 2.1% and the Dow was down 0.8% for the week. Foreign stocks fell as the war and Covid lockdowns continue to constrain supply chains, the FTSE All World Ex US was down 0.8% for the week. US crude ended the week at $106.95 per barrel up from $98.26 the week prior. The 10-year Treasury yield increased to 2.83% from 2.70% the week prior.

Skyrocketing energy and food costs as well as strong consumer demand pushed US inflation to 8.5% in March, another four decade high. Core inflation increased 0.3% in March, Below expectations.

The rate on a thirty fixed mortgage hit 5% for the first time in more than a decade.

More factories in China are halting production due to Covid lockdowns putting additional pressure on supply chains.

ECB president Lagarde said the ECB will continue to lag behind the Federal Reserve in tightening monetary policy.

There is no guarantee that any investment strategy, including those described here, will be successful. Any investment or investment strategy can lose money. Past performance does not guarantee or predict future results. You should not assume that any discussion or information contained herein serves as the receipt of, or as a substitute for, personalized investment advice from Raffa Wealth Management, LLC. This information was gathered from reliable sources, but we cannot guarantee accuracy. Indexes do not reflect the fees associated with actual investments and such fees would reduce the performance illustrated. Source: FMG Suite, LLC.
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