“The Fed could raise rates later this year, although when thinking about the next meeting we think the bar for raising rates in July is much higher than implied market forecasts,” she explained.
Meanwhile, there is debate among investors about whether the current environment is a bull market or not, with some realizing that not only the Fed, but global central banks are not done raising rates. The Bank of England raised interest rates by 50 basis points, a larger-than-expected move, which followed similar moves from the Swiss Central Bank and the Norwegian Central Bank on Thursday (22/6/2023).
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Investors also digested a number of new economic data released on Thursday (22/6/2023).
US initial jobless claims held at 264,000 in the week ended June 17, in line with the previous week’s revision, still the highest level since late 2021, according to the US Labor Department.
US existing home sales rose 0.2 percent last month from April to a seasonally adjusted annual rate of 4.3 million units, down 20.4 percent from a year ago, according to data released by the National Association of Realtors (NAR) on Thursday (22/6/2023).