Weekly Market Pulse: The Uncertainty Of Uncertainty

Joseph Calhoun
2.66K Followers

Summary

  • Oil jumped 7.5% last Friday in the wake of the Israeli attack on Iran, but the reaction in most other markets was surprisingly muted.
  • The dollar closed the week down 1% and only managed to rally by 0.25% on Friday after the Israeli attack on Iran.
  • Commodities were the best-performing asset class last week as crude oil rose by 13.3%, heating oil 11.8% and gasoline 7.5%.
  • Not surprisingly, the best-performing sector last week was energy, up 5.6% on the back of higher crude prices.

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Oil jumped 7.5% last Friday in the wake of the Israeli attack on Iran, but the reaction in most other markets was surprisingly muted. The dollar, which normally catches a bid in these situations, was up just 0.27% and US Treasuries actually sold off

This article was written by

2.66K Followers
Joe has worked in the financial services industry since 1992 in various capacities, including Operations Manager, Compliance Manager, Registered Representative and Portfolio Manager. From 1997 to 2006, when he founded Alhambra Investment Management, Mr. Calhoun was a Director of Investments at Oppenheimer & Co. Mr. Calhoun holds the Series 63 (Uniform Securities Agent State Law) and 65 (Uniform Investment Advisor Law) securities licenses. He has previously taken and passed the Series 7 (General Securities Representative) and Series 9/10 (General Securities Sales Supervisor) securities exams. Joe proudly served in the U.S. Navy’s nuclear submarine service for 8 years (1983-1990) and was awarded several commendations including the Navy Achievement Medal in 1987. He studied engineering at the University of South Carolina and is a graduate of the U.S. Navy’s Nuclear Propulsion School. He founded Alhambra Investment Management as a registered investment advisory to address the needs of the individual investor. His market commentaries are widely read and published at various online outlets. He has appeared on Larry Kudlow’s program on CNBC and various radio programs. He is also an editor of the website RealClearMarkets.com.

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