– Global equities were flat, while Commodities advanced and prices on US Treasuries declined.
– Nine of eleven sectors moved higher, but declines in Technology and Consumer Discretion stocks were enough to hold back cap-weighted indices.
– Latin American stocks put in another strong performance, up more than 5% for the week.
– Crude Oil bounced more than 5% during the week, but prices are still down more than 25% from June highs.

– Jerome Powell’s hawkish comments sent global financial markets lower, while Treasuries rallied. Commodities also moved higher on a rebound in oil prices.
– Dow Transports finished the week flat, and Energy was the only sector to close in the green rebounding 1.8% after an 8% decline the week prior.
– While volatile, Latin American stocks have been a safe haven in 2023, with MSCI Latin America Index returning more than 5% ytd.
– The Federal Reserve raised the Fed Funds rate target to 4.5%, the highest rate in more than 15 years.