Jack Janasiewicz offers his tactical take on the capital markets in this podcast recorded on September 8, 2022.
- Equities slipped in August and the benchmark 10-year Treasury yield widened by 55 basis points to close the month at 3.20%.
- Markets may have gotten ahead of themselves in pricing in a pivot from the Federal Reserve.
- The strong labor market gives the Fed more room to raise rates more aggressively in the short term with less concern for deleterious effects on growth – resulting in higher rates for longer.
- Moderating inflation is a two-step process: Goods and gas prices have already begun to come down, but services-related inflation may prove much stickier than anticipated.
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