Unify Financial Advisors Weekly Market Update
Last week, following the lower-than-expected June CPI release, yields dropped across the curve, driving bond prices up 0.82%. Bond prices and yields have an inverse relationship; as prices rise, yields fall.
Second quarter corporate earnings came in mixed. PepsiCo and JP Morgan rallied into Friday’s close, while Delta and Wells Fargo declined. Banks’ net interest income is under pressure as customers demand higher interest rates on their deposits. Net interest income reflects the difference between what banks make on interest-bearing assets like loans and the interest they pay out to customers.
June’s Retail Sales report for Wednesday is expected to decrease by 0.1% from the previous month. Earnings heat up this week, with notable reports from Goldman Sachs, Bank of America, American Express, Johnson & Johnson, United Health, and Netflix.
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Here’s to a great week ahead!
Thank you,
David Bennett