Chair Powell had his hearing in front of the Senate Banking Committee on Tuesday. Markets saw more cuts as several senators questioned them on various topics.
The US non-farm payrolls will be the focus for the global markets. After the shock to the upside with 500k+ jobs in January we will be getting the February employment data this Friday.
The narrative surrounding the housing market is that demand and prices are falling dramatically. We have recently seen pending, and new home sales increase over the last two months. Despite home sales and pending home sales being relatively low compared to the previous year, January 2023 was the first time we saw an increase in both metrics since July 2022. What is causing this sudden increase in housing? We can look to two areas to figure this out, but most notably, mortgage rates are the key driving factor to the housing market's demand.
Crude Fundamentals look a bit more balanced as themes such as Russian Supply and Chinese demand are becoming more uncertain. Very important week to see the effect of the Fed on Oil as well as what happens with US Crude stocks, where we might see a reverse from the consecutive builds.
7 week volume – Top 5
This week we look at the importance of nutrition to promote mental health. Nutrition is 90% of the battle, read on to see which vitamins and minerals are required in order to maintain optimal results.
Current Portfolio Allocation
PRIVATE EQUITY: 18%
Don’t forget to submit your questions to our Twitter page @WeeklyWizdom