01 Nov VIEWPOINTS NOVEMBER 2023
ALL ABOUT RATES
Global markets were weak over the past month, with both stocks and bonds posting negative returns. The catalyst was principally the material rise in interest rates over the course of the month – driving losses in fixed income and pressuring equity valuations. Until recently, the increase in long-term rates off of the regional banking crisis-induced lows in March had been largely driven by increased odds of a “soft landing” and the more hawkish reaction function from the Federal Reserve. The most recent increase, however, shows less fundamental support…
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