Financial markets are settling into a narrative in which the Federal Reserve is likely done with raising interest rates, while reversing some of the tight conditions that had been helping to do the central bank’s job.
Read: Jamie Dimon says businesses should be prepared for interest rates to go higher in case it happens Read: Why stock-market bulls say ‘Santa rally’ may have already started as equities surge to kick off November “What a difference 24 hours makes!” Gennadiy Goldberg, head of U.S. rates strategy for TD Securities in New York, wrote in an email. “The rally continues today as the market is jumping on the bandwagon and bullish momentum is seemingly taking hold.” He said that “we expect data to begin softening in the coming months and continue to look for a second quarter 2024 recession, which will put downward pressure on rates.
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