Compass Invest JSC is a leading asset management company, established in 2006 in Sofia. It is licensed by the Bulgarian Financial Supervision Commission (FSC). Compass Invest JSC is owned by Compass Capital JSC. As part of the group, Compass Invest JSC provides asset management services and management of mutual funds.
As we mentioned in the previous weekly market overview the intention of raising the interest rates, here it is. The Federal Reserve raised its interest rate target by 75 basis points (0.75%) to a 3.25% upper bound and presented a more pessimistic outlook in its Summary of Economic Outlook report. The committee raised interest rates for the third time in a row, and Federal Reserve (Fed) Chairman Powell signaled that "current increases ... will be appropriate." The Federal Reserve is willing to sacrifice growth for lower inflation. Growth expectations were revised significantly lower for this and next years. The Fed's new forecast for GDP growth in 2023 is 1.2% with an unemployment rate of 4.4%.Markets globally ended lower on the background of last week's US inflation data. These data come alongside negative corporate announcements for the third quarter. Analysts and investors expect the Fed to increase the key interest rate by at least 75 basis points at this week's meeting.Markets ended this week lower after the S&P 500 ended its four-week winning streak. Markets got a reminder from the chairman of the Federal Reserve Powell that fighting inflation remains the central bank's top priority, and that interest rates may stay higher for longer than some expect.