Episodes
![The Outlook for Housing in a Macro Game of Inches](https://pbcdn1.podbean.com/imglogo/image-logo/4666493/jpm-am_podcast_cover_NOTWA_1400x1400_300x300.png)
Monday Aug 12, 2024
The Outlook for Housing in a Macro Game of Inches
Monday Aug 12, 2024
Monday Aug 12, 2024
The last two weeks have provided a vivid reminder of how sensitive markets can be to small changes in the macro-economic outlook.
With a nudge down in oil prices, the Fed’s 2% inflation goal suddenly seems achievable within a matter of months. With a slight weakening in the labor market, the unemployment rate has shifted to a trajectory that has foreshadowed recession in the past. In response, the 10-year Treasury yield fell from 4.29% on July 24th, to 3.78% on August 5th while the VIX index, a measure of stock market volatility, more than doubled over the same period, with stock prices falling sharply by the close of business last Monday.
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