The staggering run of bonds

As we approach the end of a very turbulent 2023, we are cautiously optimistic, with developed market central banks having come to the end of the tightening cycle and signaling relief on rates is not too far off.

Stocks got off to a rough first week of the new year, with tech names leading the week’s decline. Several market observers called it the ‘reverse Goldilocks’ effect, where the market decided investors were getting a little too excited over the prospect of a Fed rate cut.

What the direction of interest rates says about the economy