Highlights:
The U.S. economy added 4.7 million jobs in 2022, including 223,000 jobs in December.
In week 1 of January 2023, the S&P 500 and Nasdaq increased 1.5% and 1%, respectively; while the two-year, 10-year and 30-year Treasury closed at 4.24%, 3.55%, and 3.67%, respectively.
In week 2, major financial institutions reported decent earnings and major stocks had a strong week.
Week 3 was consumed by U.S. debt limit discussions as the US$31.4 trillion debt ceiling was reached. In the same week, Google, Amazon and Microsoft announced plans to lay off 12,000, 18000 and 10,000 workers, respectively.
In week 4, preparations began for the Federal Reserve meeting on 31 January and 1 February. The two-year, 10-year and 30-year Treasury closed at 4.19%, 3.82%, and 3.64%, respectively.
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