This just in: CEO Chris Shuba in Financial Planning

Read the highlights of this week’s commentary from Helios:

The Fed raised rates by 75 basis points, as expected, last week following their September FOMC meeting. But, perhaps, more importantly, the Fed’s economic projections show that two-thirds of members anticipate rates going up further than the markets had anticipated. The Fed also acknowledges those moves are likely to push the economy into a recession next year.

A few interesting developments internationally last week, with Japan intervening to support the Yen, the first time it has done so since the late 1990s. The Yen had fallen 20% versus the dollar this year. On the flip side, the UK announced a tax cut and subsidy plan that sent the Pound sharply lower, hitting its lowest levels against the dollar in nearly four decades.

Capital markets continued to struggle as global growth fears spread, with the S&P 500 notching its second consecutive week of substantial declines.

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