Liz Ann Sonders:
Looking at last protracted bear market during GFC (top),
major difference was that S&P 500 (blue) sold off as rates
(orange) were being cut; quite different today as rates
continue to spike while
stocks fall |
00:01 - 25/10/22 |
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We're only in a modest bear market in terms of the
percentage drop in
stocks. But because valuations started so high, the drop in
terms of dollars has been enormous, and the drop as a % of
GDP substantial |
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Offshore yuan weakens past 7.3 per dollar for the first time
ever |
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The 30-year mortgage rate in the US has moved up to 6.94%,
its highest level since 2002. In early 2021 it hit an
all-time low of 2.65% |
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Silver linings have begun to emerge in this year’s erratic
stock market for long-term equity investors, Bank of America
says |
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