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Markets continue to wade through several headwinds

Markets continue to wade through several headwinds

Markets continue to wade through several headwinds

Over the course of the last week, the world’s financial markets have been dealing with a plethora of headwinds and headlines to worry about. There has been the Evergrande debacle, which has foreign investors left holding the bag in the bond market, and then of course the Chinese have all but banned crypto. That being the case, the crypto markets have certainly felt the expectations of adoption taking a hit.

 

Furthermore, there are a lot of concerns when it comes to the Federal Reserve, we have seen a significant amount of questions as to whether or not the tapering would have an effect on the markets. Now that Jerome Powell has come and gone, it seems as if the markets are okay with the idea of tapering, but inflation now is a concern.

China cracks down on crypto again

China cracks down on crypto again

During the course of the week, China has cracked down on crypto yet again. After all, we had recently seen the Chinese ban crypto mining, which of course had worked against the value of Bitcoin and other crypto. During this past week, the People’s Bank of China has now banned transaction of crypto, but not owning crypto. It essentially makes Bitcoin and other crypto useless. Though, the market is likely to see a lot more in the way of negativity. The market has sold off quite drastically during the week, and it is very possible that we are not done. After all, China seems to be shaking up the financial markets in general, and crypto is firmly in its crosshairs.

US home sales beat expectations

US home sales beat expectations

Despite the fact there has been a massive push to the upside when it comes to pricing in the home markets, the sales of new US single-family homes have risen more than anticipated in August. There are still signs that the housing market momentum is starting to slow as the push into real estate from the pandemic starts to fade.

 

New home sales have increased 1.5% to a seasonally adjusted annual rate of 740,000 homes last month, according to the Commerce Department. The July sales number was revised up to 729,000 units from the previously reported 708,000 units. The overall consensus was that housing numbers would have come out at 714,000 units.

Nike suggests supply chain issues to continue

Nike suggests supply chain issues to continue

Nike has suggested that supply chain issues could be an issue well into 2022, suggesting that perhaps the markets overall are going to have to continue to deal with the concerns of supply constraints. This has been seen in multiple parts of the economy, as well as multiple companies. Nike is a particularly interesting bellwether, as it produces its goods in China and Vietnam, but it also has massive sales in North America, Asia, the Middle East, and of course the European Union. Nike is quite often use as a sign of where the supply chain is going. As things stand, the overall outlook seems to be rocky at best.

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