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Oct 3, 2022

The Weekly Scan October 3, 2022

Find out what’s going on in the world of business this week with Stash’s Weekly Scan.

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Welcome to the Weekly Scan. Here’s what we’re following for the week of October 3, 2022. Plus, our Certified Financial Planner™ Lauren Anastasio gives advice on how to respond to the news.

Bond drama. The Bank of England said it would start buying back bonds in an attempt to curtail problems with British markets. Markets reacted poorly to British finance minister Kwasi Kwarteng’s introduction of tax cuts and an energy bill bailout funded by government borrowing. For the next few weeks, the Bank of England plans to buy back $5 billion worth of bonds up to 20 years’ maturity—up through October 14. The government plans to resume its plans to sell bonds at the end of October. The costs of borrowing fell in response to the news of the buy-back. 

  • Lauren’s take: While the bond market has struggled this year, rising interest rates means newly issued bonds will pay higher rates of interest moving forward, making them a more attractive asset class than they have been over the last few years. 


Making brain waves. Pharmaceutical companies Biogen and Eisai delivered promising results for lecanemab, their experimental drug designed to treat Alzheimer’s disease. Based on an 18-month phase 3 trial of 1,800 people with early-stage Alzehimer’s, the drug reportedly reduced cognitive and functional decline by 27% when compared with those treated with a placebo. The U.S. Food and Drug Administration (FDA) is currently exploring early approval for lecanemab, so it can help reduce amyloid-beta protein build-up in the brains of people with Alzheimer’s. 

  • Lauren’s take: An industry-specific ETF that focuses on biotechnology or pharmaceuticals can be a lower-risk way to get exposure to innovation in life sciences without having to keep tabs on individual companies.  

Wall Street Journal

Weathering the storm. Hurricane Ian hit the southwestern coast of Florida on Wednesday, causing at least 2.5 million Floridians to be without power. The category 4 hurricane caused record flooding in the state, with some areas receiving over a foot of rain in mere hours. In response, President Biden approved a major disaster declaration for the state of Florida, which will grant federal aid for temporary housing and home repairs, loans for uninsured property, and more. 

  • Lauren’s take: A storm like this could cause financial ruin without the right insurance. It’s important to review your insurance coverage at least annually, whether you’re a homeowner, renter, own a vehicle, or have the need for  life insurance. 


Rotten apple? Apple reversed course last week, telling suppliers to slow down production of the new iPhone 14, in response to lower demand. Rather than increasing production of the iPhone by 6 million units during the second half of the year, Apple will maintain last year’s target of producing 90 million new iPhones. Shares of Apple fell 1.3% in response to the news. Shares in suppliers, such as Taiwan Semiconductor Manufacturing and Hon Hai, also fell following the news. 

  • Lauren’s take: It may be tempting to upgrade your phone, computer, or vehicle every few years, but avoiding monthly payments by holding on to items that have been paid-in-full is a great way to keep your monthly cash flow under control and ensure you have money available to invest. 


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Written by

Claire Grant

Claire is a content writer for Stash.


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