The central bank said that the key reason for such sharp increase in prices was due to the depreciation of the British pound after the Brexit referendum.
The BOE (Bank of England) in its November meeting increased its benchmark interest rates from 0.25% to 0.50%.
US private sector employment increased by 235,000 jobs in October. Non-farm jobs have bounced back from a downward revised 110,000 jobs in September.
At its October policy meeting, the Bank of Japan left its ultra-loose monetary policy unchanged. The decision was made by an 8-1 majority vote.
As with most timeframes in the market, the laggards are a mix of surprising and obvious names (in hindsight, of course). This October, they stand out a little more than usual since so many asset classes are up this year.
Since early September, US ten-year and longer-dated paper has been falling. Rates for the US government ten-year bond jumped from 2.04% on September 7 all the way to 2.36% on October 10.
If, in real estate, everything is “location, location, location,” then with natural gas investing, everything is “weather, weather, weather.”
Gold has had a solid year so far, up 13.5% through mid-October. And though it peaked in early September at over $1,350 per ounce, it had a quick drop back to $1,261 in early October only to bounce back over $1,300 in mid-October.
The reduction to the ECB’s bond-buying program will likely have a mixed impact on the bond markets of countries in the European Union.
In the ECB’s (European Central Bank) October policy meeting, its laid out its plans for the QE (quantitative easing) program.
The British pound (FXB) depreciated 0.46% against the US dollar (UUP) in the week ending October 27. The pound (GBB) closed for the week at 1.31.
For the week ending October 27, the S&P 500 Index (SPY) closed at 2,582, recording gains of 0.23% for the week.
In the week ending October 28, news related to developments surrounding tax reforms kept volatility at bay.
The US Moat Index has been performing fairly well this year. As of September 30, 2017, it has outperformed, rising 20.5% over the S&P 500 Index’s (SPY) (SPX-INDEX) rise of 18.6% YTD.
The October Conference Board LEI reported that average consumer expectations for business conditions for September are 0.37 above the mean.
At the last FOMC (Federal Open Market Committee) meeting on September 20, 2017, Fed members decided to initiate a balance sheet normalization process starting in October.
The Leading Credit Index is an economic model that’s modeled on the performance of six major financial market instruments.
The S&P 500 (IVV) index has continued to break higher as hopes for tax reforms are being reignited by the Trump administration.
In September 2017, the number of building permits issued decreased from a revised figure of 1.27 billion in August to 1.22 billion.
According to the October Conference Board LEI, core capital goods orders for September were valued at $37.85 billion compared to a revised reading of $38.0 billion in August.