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Walker Crips' Market Commentary

Bank of England Governor warns interest rates may still have to increase further

Season 1, Ep. 70

In the US, the S&P 500 closed 1.9% higher for the week, regaining some of ground lost through February where it declined by 2.6%. There were a number of important economic reports in the week, however their mixed nature meant there was a lack of noteworthy catalysts for performance. The Institute for Supply Management's (ISM) manufacturing Purchasing Managers' Index (PMI) came in higher in February at 47.7 (previously 47.4) and was slightly ahead of median forecasts of 47.6. It does, however, remain in contraction territory, as levels below 50 indicate slowing activity. The ISM's services PMI fell slightly to 55.1 (previously 55.2), but came in above median forecasts of 54.3 and remains in modest expansion. The most surprising data point of the week was the 8.1% jump in pending home sales in January (previous month 1.1%), far ahead of median forecasts of 0.9%. Lawrence Yun, chief economist at the National Association of Realtors' attributed the jump to the dip in mortgage rates over the new year and indicated that "home sales activity looks to be bottoming out in the first quarter."


Stocks featured:

Aston Martin Lagonda, Persimmon and Rightmove



To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/


This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.

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