BusinessReuters
Fed up? Stocks up!
If world markets on Monday take their cue from Friday’s melt up on Wall Street it will round off what has, in many ways, been a truly remarkable month. Investors face another (likely) bumper U.S. rate hike from the Fed later this week, and profit-taking and re-positioning as the new month begins could also burst the revival bubble. The implied Fed terminal rate rose around 50 bps to 5% (also Goldman’s new forecast), bond yields rose, global inflation remained sticky, 2023 recession risks increased, and the Q3 U.S. earnings season has been patchy at best, or a disaster at worst.
