Christmas

Key events:       New Year's Day 2022 has become the most volatile year in a decade: the world economy is going through tough times, central banks are struggling with high inflation, and the stock market has been under pressure from a bearish trend since the beginning of the year. Will the situation change in 2023 and what should investors expect?

Key events:       New Year's Day – Early close   The situation seems to be developing according to the worst possible scenario one could come up with for these New Year's Eve days. Santa clearly does not want to come to the stock market. New fears of coronavirus and old fears of a possible recession in the coming 2023 are weighing on investors and keeping the stock bulls from raising their heads. It seems that the latter is trying to resist, but in the end, they do not succeed and day by day they give up one position after another.

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Key events:       UK – Christmas Australia – Christmas New Zealand – Christmas Canada – Boxing Day   An important market phenomenon affecting both short- and long-term investors in 2022 was the unfortunate consistency in the dynamics between the S&P 500 and U.S. Treasuries. In the past, having bonds in an investor's portfolio, mainly zero-default-risk Treasury notes and "long bonds," usually helped them guard against volatility in stocks.

Key events:       USA - Christmas Canada - Christmas Switzerland - St. Stephen's Day UK - Boxing Day Australia - Boxing Day New Zealand - Boxing Day  

Key events:       USA – Core Durable Goods Orders (MoM) (Nov) USA – Core PCE Price Index (MoM) (Nov)   Canada – GDP (MoM) (Oct)   USA – New Home Sales (Nov)