Commodity prices rise, technology stocks are under pressure🫣
Oil prices remain above $80, U.S. bond issuance has increased, and financial conditions remain at the same accommodative level when overnight interest rates tightened (now 5.3% vs. about 3.80%), even if the market is increasingly convinced that the Fed is basically This round of interest rate hikes has ended. As we enter the end-of-month Jackson hole meeting, the bearish narrative for bonds is still forming. In the past week, the bearish steep trend of the yield curve has continued to put pressure on the stock market, and the prices of technology stocks have continued to put pressure on the stock market. Trends have been particularly affected, with Nvidia down 15% since the beginning of the month.
