“No More Candy for You”

Published on
August 3rd, 2022
34 minutes

“No More Candy for You”

Daily Briefing ·
Featuring Andreas Steno Larsen and Peter Boockvar

Published on: August 3rd, 2022 • Duration: 34 minutes

Stocks are ripping higher today and yields are rising, as multiple Federal Reserve officials are telling the market that the central bank is still hawkish about inflation and talk of a “pivot” is premature. “You’ve had enough candy, no more for you,” is how Peter Boockvar puts it in his latest report. Peter, the chief investment officer at Bleakley Advisory Group, said of today’s Institute for Supply Management’s services index data for July that “the headline increase but the shrinking breadth of economic growth points to the growing mixed bag but slowing trend of the US economy.” He joins Andreas Steno Larsen for today’s Daily Briefing to talk about weakening economic data and the Fed’s path from here. We also hear from David Woo about the trajectory of U.S. growth and what it means for markets.