The S&P/ASX 200 (ASX: XJO) broke a four-week losing run to push 1.5% higher over the week while all three US benchmarks gained around 4%.
Here are my three key takeaways from the week.
All about inflation
It was all about inflation this week as the US economy reported the fastest rate of inflation since the 1980s, when interest rates were at significantly higher levels.
The inflation and interest rate decision remains the key talking point. However, the fact that some 50% of the 12-year increase in prices is coming from energy and motor vehicles continues to offer respite given the sector-specific issues facing these costs.
This is a key reason that the 10- and 30-year government bond yields remain at just 1.5% and 1.9%, respectively.
Magellan in the spotlight
Magellan Financial Group Ltd (ASX: MFG) remains the talk of the town as the sell-off continues following the departure of its CEO and confirmation that Hamish Douglass was indeed separated.
Momentum has clearly taken control, along with growing short positions, with every piece of news met with further falls in the Magellan share price.
Magellan share price chart
This despite the company actually reporting an increase in assets under management during the week, improving returns and now yielding some 8% in dividends.
RBA embraces digital
The Reserve Bank of Australia appears to be shifting towards the metaverse, or at least seeking to embrace digital technology, with Governor Lowe announcing that the bank could seek to issue its own digital currency that can be held in wallets, rather than on bank cards, like other tokens.