Monday Morning Meeting Notes (11/21/2022)

General Info:

• In midterm election news, Republicans have officially taken back the House of Representatives
• Democrats retained control of the Senate, so Congress is now like my favorite slushie – a mix of both red and blue
• We generally view politics as short-term noise (given our long-term investment mindset), but wanted to note the election results as it will likely be more difficult for the current administration to follow through on partisan policies over the next two years
• Last week, the population of Earth reached 8 billion people as people are living better, for longer
• Child and maternal mortality rates are down, scientists have developed cures for deadly diseases, and extreme poverty rates have plunged
• Fun Fact: Sarah Hale, author of “Mary Had a Little Lamb,” is known as the Mother of Thanksgiving. She spent years lobbying for Thanksgiving to be a national holiday, which led to President Abraham Lincoln issuing the first proclamation of a national Thanksgiving holiday in 1863

Monday 11/21:

• Taiwan export orders
• Germany producer price index (PPI) for October is expected to have risen 42.1% year-over-year

Tuesday 11/22:

• Eurozone consumer confidence
• South Korea consumer confidence
• The Organization for Economic Cooperation and Development (OECD) releases its Economic Outlook, with analysis and projections for the world economy

Wednesday 11/23:

• The Federal Reserve releases the minutes from its November 1^st-2^nd meeting
• S&P Global Manufacturing PMI data for the U.S., Eurozone, U.K., France, and Germany
• S&P Global Services PMI data for the U.S., Eurozone, U.K., France, and Germany
• U.S. University of Michigan sentiment index for November
• U.S. new home sales for October

Thursday 11/24:

• U.S. stock and bond markets are closed for Thanksgiving
• The average cost of a typical Thanksgiving meal is up 20% from last year, according to the American Farm Bureau Federation’s annual survey; fresh cranberries were the only holiday staple whose price went down
• The European Central Bank (ECB) publishes the minutes from its October policy meeting
• Germany IFO business climate index for November
• Brazil reports consumer confidence and inflation data

Friday 11/25:

• U.S. stock and bond markets close early (at 1pm and 2pm, respectively)