The US bond yield curve continues to invert, and the market revises terminal rate upwards as Fed members speak out. Each week, the Syz investment team takes you through the last seven days in seven charts.

US equities gave back a portion of the previous week’s strong gains and closed modestly lower for the week. Growth stocks lagged value-oriented shares. The energy sector underperformed, however, as European oil and natural gas inventories reached near-peak levels. Dispelled reports of a Russian missile strike on Polish territory sparked a brief sell-off on Tuesday, but trading volumes remained muted for much of the week.

2-year bond yields drop sharply on the back of US inflation figures and FTX crumbles, while the dollar cools down. Each week, the Syz investment team takes you through the last seven days in seven charts.

US equities recorded strong gains and bond yields fell as investors celebrated reassuring inflation data. The S&P 500 recorded its best week since June and hit its best intraday level in two months. Growth stocks — tech in particular— benefited the most from falling yields.

As the Q3 earnings seasons draws to a close, energy remains the only sector with a positive year-to-date performance. Each week, the Syz investment team takes you through the last seven days in seven charts.

Stocks fell after the Fed dashed market hopes for an impending pivot in monetary policy in the form of a pause or slower pace of rate hikes. Nasdaq was the biggest loser (-5.6%) while the Dow outperformed (-1.4%). This was the Nasdaq's worst week since January.

Apple is holding up much better than other FAANGs ExxonMobile posts best earnings since the invention of the lightbulb, while Meta leads the pack of poor performing mega-caps. Each week, the Syz investment team takes you through the last seven days in seven charts.

CHART OF THE WEEK: APPLE HITS A NEW HIGH vs. NASDAQ 100 The only tech behemoth to emerge relatively unscathed from this week is Apple which, despite reporting slower than expected iPhone 14 sales, otherwise held up very well comparatively. Apple stock finished up 7.6% on Friday, its best day since 2020. The stock hits an all-time-high relative to the Nasdaq 100 index.

Japan intervenes in the foreign exchange market Japanese forex intervention boosts the yen, US equities had their best week in 4 months due to massive call options buying by the shorts and UK Gilts soared amid political uncertainty. Each week, the Syz investment team takes you through the last seven days in seven charts.

Markets rebound can be self-fulfilling. There are too many shorts who are now panic-buying call options on the S&P 500 to hedge themselves. As such, S&P 500 volatility skew is at extreme levels (i.e calls buying is extreme vs. puts buying).