Retail gasoline prices in the United States were already up sharply before this weekend’s shocking developments in the Middle East. Although there is not expected to be any significant threat to oil supplies in the near term, the uncertainty of the situation alone is probably enough to boost prices further, precisely at a time that financial markets appear to be highly worried about inflation again. The major equity benchmarks retreated for the week amid heightened fears of conflict in the Middle East and some signs of persistent inflation pressures that pushed long-term Treasury yields higher. Large-caps held up better than small-caps, with the Russell 2000 Index suffering its biggest daily decline in almost two months on Wednesday and falling back into negative territory for the year to date. On the wealth planning front, we discuss creative ways for home buyers can reduce their mortgage rate.
Click Here to Read the April 15, 2024, Economic Commentary
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