Episode Details

US equities rose, bond yields fell, gold advanced, and the US dollar dropped after US inflation data showed that core inflation fell to 4.8%. The lower inflation means that the real (inflation-adjusted) Fed Funds rate has turned positive for the first time in this economic cycle. Norbert Rücker, Head of Macro & Next Generation Research, talks about the clean energy investment theme, noting that it has become a victim of its own success. Nicolas Jordan, CIO Strategy & Investment Analysis, discusses the strong performance of the Magnificent 7 this year, highlighting that the rise of technology stocks is creating a positive performance backdrop for the broader equity market.

00:14 Introduction by Bernadette Anderko (Investment Writing)

00:33 Markets wrap-up by Mike Rauber (Investment Writing)

05:37 Clean Energy downgraded to Neutral by Norbert Rücker (Head of Macro & Next Generation Research)

08:52 Update from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)

11:54 Closing remarks by Bernadette Anderko (Investment Writing)

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