08 Jan VIEWPOINTS JANUARY 2024
SUPPORTIVE FUNDAMENTALS
Global markets were strong over the past month as “soft landing” supportive fundamentals and market conditions unfolded. Increasing confidence in moderating inflation drove significant changes in expectations for the Fed (pricing in earlier rate cuts), and a steep drop in long-term rates. Lower rates combined with still reasonably durable labor market and consumer spending conditions drove a re-rating upward of equity markets as the scenario of falling inflation and non-recessionary growth conditions over the next year became increasingly priced in…
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