AUTHOR
Mick Weinstein
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Stocks were down for the week as investors appeared to take some profits and traders parsed Fed Chair Jerome Powell’s Congressional testimony.
The overarching outlook for fixed income in 2024 is centered on rate cuts, but we still haven’t solved the timing and magnitude questions, which will continue to create an elevated volatility quotient for Treasuries until some clarity comes into the picture.
Only 11% of the hedge funds Goldman Sachs tracks have beaten an ordinary S&P 500 index fund.
Foreign exchange markets are rangebound, says veteran analyst John Forman, providing a signal that the next major move for stocks may be sideways.