In the aftermath of what had been a sweet buzz of a ride, stocks are embroiled in another unwelcome turn, according to Last week, of course, the S&P 500, bless it, threw in the towel of what had been a four-week run. This week? You go it; the setback continues.  


So, what’s up with that? Well, let’s count the uncertainties. Corporate earnings season’s winding down. Summer? Vaulting into the rear view mirror. And the news cycle will slow to a trickle. It all spells a vacuum in solid direction which, right again, puts air under the likelihood of volatility, the site continued.


In fact, taking, well, stock, of the interest rate trend lines over this  summer, they’re more rocky than stable, according to The swings in the average 30 year fixed rates have been madcap, percolating and descending by as much as a quarter point per seek following a mid June peak to 5.81%.


The 30-year fixed rate went back up to well over 5% this week -- a reminder that recent volatility remains persistent, said Sam Khater, vice president, chief economist and head of Freddie Mac’s Economic and Housing Research division. “Although rates continue to fluctuate, recent data suggest that the housing market is stabilizing as it transitions from the surge of activity during the pandemic to a more balanced market.” 

According to a Bank of America analyst, the cybersecurity industry is in the midst of a spending slowdown. The slowdown has mostly affected small and mid-sized businesses. While large enterprises haven’t shown signs of a slowdown just yet, this might change as larger firms may need to reduce budgets, likely starting next year. While the demand for cybersecurity solutions has been surging as war rages on in Ukraine, uncertainties from the global economic slowdown are starting to have an effect. Distributors are expected to see slowdowns in Identity and Access Management (IAM) and Virtual Machine (VM), while areas such as endpoint solutions, cloud security, and privileged access management are seen as more resilient. Companies such as Microsoft with its bundle offerings, and SentinelOne and CrowdStrike that provide endpoint security should benefit, at least initially. Cloud security providers Zscaler and Palo Alto Networks are expected to benefit as well.

Finsum: Uncertainties arising from the global economic slowdown have triggered a slowdown in spending on some cybersecurity solutions.

Active bond giant Pimco saw clients pull their money for a second straight quarter amid the global bond selloff. The firm saw outflows of $29.4 billion during the second quarter as investors fled bonds due to Fed rate hikes triggered by sky-high inflation. High-interest rates make bonds less attractive. This was after the California-based company saw $14.3 billion drawn by investors in the first quarter. Analysts at Citigroup noted that the outflows during the second quarter were much higher than expected. The fund company has been trying to navigate a less than ideal fixed income environment where high levels of inflation not seen in a generation are eroding the value of their bond holdings. Overall, Pimco’s parent company, Allianz, saw its third-party assets under management fall to $1.83 billion.

Finsum: Amid the global bond selloff, active bond manager PIMCO saw massive outflows for the second straight quarter.

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