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Levine Capital 2023 41st Week Newsletter

The single most powerful asset they all have is their mind. If it is trained well, it can create enormous wealth in what seems to be an instant.”  – Robert Kiyosaki

September brought a blowout job creation number from the Bureau of Labor Statistics, but is the labor sector as strong as that data suggests? Meanwhile, appreciation reports show that home prices are reaching new record highs. Here are last week’s headlines:

Family Hack of the Week

Family Hack of the Week

This Vegetable Soup courtesy of the Food Network is easy, delicious and perfect to enjoy all autumn long. Heat 2 tablespoons of olive oil in a heavy pot. Add 1 cup each chopped onion and chopped celery and cook until tender. Stir in 1 cup chopped carrots and 1 cup peeled and diced Idaho potato and toss to coat. Stir in 1 cup chopped zucchini 1 cup diced can of tomatoes 6 cups vegetable stock. Reduce heat and simmer until potatoes and carrots are tender, about 15 to 20 minutes. Stir in 1/2 cup tiny pasta and 1 cup frozen peas. Simmer for an additional five minutes. Enjoy with your favorite crusty bread.

What to Look for This Week

Crucial inflation reports are ahead, starting with September’s Producer Price Index on Wednesday, which will give us news on wholesale inflation. Look for the Consumer Price Index on Thursday.

Also of note, Tuesday brings the NFIB’s report on confidence among small business owners for last month while the latest Jobless Claims will be reported on Thursday. Investors will also be closely watching Wednesday’s 10-year Note and Thursday’s 30-year Bond auctions for the level of demand.

Plus, the minutes from the Fed’s latest meeting will be released on Wednesday and these always have the potential to move the markets.

Technical Picture

Mortgage Bonds ended last week sitting on support at 97.67. If this level holds, there is room for improvement before reaching the next ceiling at 98.072. The 10-year ended last week around 4.80% after rising as high as 4.875%.