Monday Morning Meeting Notes (09/25/2023)

Weekly Economic Insights

Monday Morning Meeting Notes (09/25/2023)

Bradley Prosper, CFA®, CFP® Weekly Economic Insights

Monday Morning Meeting Notes (09/25/2023)

General Info:

  • As expected, the Federal Reserve (Fed) maintained the fed funds rate at a target range of 5.25-5.50%
  • The Bank of England (BOE) and Bank of Japan (BOJ) both kept their monetary policy rates steady
  • Government shutdown looms as we approach the October 1st deadline for Congress to pass spending bills
  • The effects of even a full-government shutdown are often short and reversible (back-pay), so they may cause short-term volatility but have a limited impact on financial markets in the long-run
  • Amazon plans to introduce an ad-supported tier to its streaming service early next year
  • Customers can pay an extra $2.99/month (in addition to the $14.99/month or $139/year Prime membership) to keep their TV and movie experience ad-free
  • If customers don’t choose to pay the additional $2.99/month, they’ll be automatically enrolled in the new ad-supported tier
  • Fun Fact: 80% of the flowers in the Australian rainforests are not found anywhere else in the world

Monday 09/25:

  • Paris Fashion Week begins (my invite must’ve gotten lost in the mail)

Tuesday 09/26:

  • MillerKnoll and Costco report earnings
  • U.S. new home sales for August
  • U.S. Conference Board consumer confidence for September

Wednesday 09/27:

  • U.S. durable goods orders for August
  • Bank of Japan releases the minutes from its July policy meeting

Thursday 09/28:

  • Nike and Accenture PLC report earnings
  • U.S. initial jobless claims and continuing claims data
  • Third reading of Q2 2023 U.S. GDP
  • Eurozone economic confidence and consumer confidence data for September

Friday 09/29:

  • U.S. personal income and spending data for August, including personal consumption expenditures (PCE)
  • PCE is expected to have increased 0.5% month-over-month and 3.5% year-over-year
  • Core PCE, the Fed’s preferred inflation gauge, is expected to have increased 0.2% month-over-month and 3.9% year-over-year (vs. last month’s reading of 0.2% and 4.2%, respectively)
  • U.S. University of Michigan consumer sentiment for September
  • China Caixin Manufacturing PMI and Services PMI data for September
  • Japan unemployment, industrial production, and retail sales data for August
  • Final reading of Q2 2023 U.K. GDP
  • Eurozone releases preliminary inflation data via the consumer price index (CPI) for September
  • China’s “Golden Week” holiday begins and runs through October 8th

About the Author

Bradley Prosper, CFA®, CFP®

Senior Research Analyst
Mr. Prosper is a member of the Firm’s investment research group where he assists in conducting investment research that is instrumental in the construction, maintenance, and management of client portfolios. This research includes the procurement of primary data via direct investment manager interviews as well as analyzing information from our data resources.