Up And Adam

This report highlights rising financial stress among US households, cooling small business hiring, and the impact of rising real yields on equities and precious metals. Despite these shifting economic signals, Raymond James maintains an expectation that the Fed will remain on hold throughout 2026.

Key Takeaways

• 1.US household financial anxiety is at its highest level since 2022, though inflation expectations remain anchored.
• 2.Small business labor market signals are softening, but inflation pressures from wage costs are rising.
• 3.Rising real yields are putting pressure on equity valuations while strengthening the income appeal of bonds.

Table of Contents

• Previous Close
• Future
• Household Financial Stress Climbs—But, Surprisingly, Inflation Expectations Moderate
• Small Business Hiring Cools While Inflation Signals Reemerge
• South Korea's Kospi Composite Partially Recovers After Steep Three-Day Slide
• Rising Real Yields Raise The Bar For Equities And Bolster The Income Case For Bonds
• As Yields Stay High, Gold Falls Below Its 200 DMA And Enters A Bear Market—Down 20% From Its Peak

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