Good morning and welcome to the Weekender for Saturday, February 18, 2023.Equity markets, as measured by the S&P 500 index, were lower by -0.3% last week. Price action in most financial markets were driven by data showing persistent inflation at levels higher than expected. But the equity market response to the inflation data was muted, suggesting investors are less skittish than they were last year.
In fact, US equity markets throughout the month of February have been characterized by sideways moves with few dramatic ups and downs.
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