The modest reversal in consumer price trends signaled by last week’s CPI numbers was welcome – but should not be assigned undue importance. Inflation is still “too high” from the Federal Reserve’s perspective and, even more problematic, consumer inflation expectations seem to be still creeping upwards. With inflation surprising to the downside, investors moved to dramatically reprice their expectations for Fed tightening over the coming months. Futures are now pricing in a hike of 50bps at the December meeting, following a run of 4 consecutive 75bps hikes. In the crypto markets, the FTX contagion spread hasn’t been meaningful, so far, outside the crypto ecosystem. The implosion of FTX has reminded us of not to replicate the risks and inefficiencies in traditional finance including leverage, liquidity, transparency, and integrity. We are monitoring the pre-pandemic Bitcoin high of around $13,850, as an investor sentiment indicator. On the wealth planning front, we discuss three important trends when it comes to developing your wealth plan: three important trends: cognitive decline, longevity risk, and the rising cost of healthcare. We are all living longer and that means your assets will need to sustain your lifestyle potentially more than initially expected.
Click Here to Read the November 14, 2022, Economic Commentary
Click Here to Read the November 14, 2022, Investment Commentary
Click Here to Read the November 14, 2022, Wealth Planning Commentary
