US Equities fell over 2% throughout October, with bond yields rising across extended maturities along the yield curve. The US economy continues to prove itself resilient, with 3rd quarter GDP coming in stronger than expected, growing 4.9% annually.
Inflation remains a bit sticky, with CPI for September rising four-tenths of one percent month over month and 4.1% annually. When stripping out volatile food and energy prices, consumer inflation rose 3.7%.
Lastly, the Federal Reserve held steady at their most recent meeting, keeping their base rate at a target of five and a quarter to five and a half percent.
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