Holiday Cheer Came Too Soon
December 02, 2022
Once again, markets got ahead of themselves this week, anticipating a Fed pivot that is not in sight. After closing out November in positive territory for the second month in a row, equities ended this week up nearly 1%. When the Fed meets in mid-December, quarterly economic projections are likely to show rates going higher and staying higher for longer than central bankers had predicted. Will markets be able to maintain some good cheer into the year-end holidays?