High Interest Rates To Stay

Market Overview

Year To Date Performances:

1. Investors are no longer predicting that interest rates will fall in 2023. Instead, it’s now expected that there will be another interest rate hike later this year. Interest rate traders give a 77% probability of an increase to 5.5% in July but expect rates to remain there until the end of the year.

2. OPEC predicts a surge in global energy demand to 110 million barrels a day by 2045, marking a 23% increase. The organization anticipates that oil will constitute 29% of the energy mix. However, this forecast contrasts with the IEA's estimates, which suggest demand growth will start to soften in the upcoming years.

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4. Headlines

   1. Lordstown Motors has declared Chapter 11 bankruptcy.

   2. Ford has begun mass layoffs as part of its Ford+ plan which includes major restructuring of their business.

5. Preview of Premium Insights

   1. Aston Martin partners with EV startup

   2. Another Biden Social Service

   3. Apple/Broadcom/Caltech Lawsuit

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