LC Investment Playbook Weekly Update

Macro Highlights:

US Non-Farm Payrolls, Wage Growth, Wage Pressures in the U.S., U.S. CPI, U.S. Unemployment Rates, FOMC Sept - 50 bps Hike?

Fixed Income Highlights:

2Y/10Y Spread Most Inverted Since 2000, US Recession: 40% Chance Over Next 12 Months, Quantitative Tightening - A Gradual Process, Fed Fund Rates Expected At 3.6% By Q1 2023

Equity Highlights:

Minimum Impact From Inflation Reduction Act, Meme Stocks Remain Highly Speculative, Equities Performance Primarily Explained By Rates, Many Sectors Will Likely Disappoint, Flurry of M&A Deals Help Lift Biotech

Forex, Commodities & Alternatives Highlights:

Recession Signs for Eastern Europe Currencies