Weekly Market Pulse: War - What Is It Good For?

Joseph Calhoun2.92K FollowersFollow5ShareSavePlay(14min)CommentsSummaryThe University of Michigan consumer sentiment survey is near its all-time worst reading, which was set just a few years ago in 2022.The 10-year Treasury yield has risen some recently, but at 4.44% is just a tad over the average of the last 3 years and well within the range of that period.Long-term inflation expectations have also been steady. We’ve seen a rise in very short-term (1 year) inflation expectations, but even there the change is less than 1%.The stock market reaction to the Iran War is actually, I think, quite a bit milder than even the headlines. This correction has been mostly about growth stocks and, to be even more specific, technology stocks. peshkov/iStock via Getty Images Sentiment about the economy is negative right now, but that isn’t a new development. The University of Michigan consumer sentiment survey is near its all-time worst reading, which was set just a few years ago in 2022. The expectationsThis article was written byJoseph Calhoun2.92K FollowersFollowJoe has worked in the financial services industry since 1992 in various capacities, including Operations Manager, Compliance Manager, Registered Representative and Portfolio Manager. From 1997 to 2006, when he founded Alhambra Investment Management, Mr. Calhoun was a Director of Investments at Oppenheimer & Co. Mr. Calhoun holds the Series 63 (Uniform Securities Agent State Law) and 65 (Uniform Investment Advisor Law) securities licenses. He has previously taken and passed the Series 7 (General Securities Representative) and Series 9/10 (General Securities Sales Supervisor) securities exams. Joe proudly served in the U.S. Navy’s nuclear submarine service for 8 years (1983-1990) and was awarded several commendations including the Navy Achievement Medal in 1987. He studied engineering at the University of South Carolina and is a graduate of the U.S. Navy’s Nuclear Propulsion School. He founded Alhambra Investment Management as a registered investment advisory to address the needs of the individual investor. His market commentaries are widely read and published at various online outlets. He has appeared on Larry Kudlow’s program on CNBC and various radio programs. He is also an editor of the website RealClearMarkets.com.