The Rate-Hike Narrative Hasn't Changed, It Has Shifted
When the Fed is tightening, they are like a car trying to back into a parking spot without a rear-view mirror. They only know to stop when they hit the curb.
Markets are growing worried about growthAs the Federal Reserve has become increasingly hawkish over the last couple weeks, we have seen cyclical stocks trade down, credit spreads widen, and the yield curve flatten furtherSo what are markets trying to tell us? Could this be an early sign of the Fed making a mistake? Here are my thoughtsNarrative Ha...
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