7.31.23 A Cloudy Outlook Makes For Choppy Markets
The economy is doing better than expected, and the markets are responding accordingly. In this piece, we discuss some of the factors that cause us to think the Federal Reserve (Fed) hiked for the last time in this cycle as inflation is receding and the outlook for the consumer looks cloudy. We close the piece with investment implications.
Key Takeaways
• Fixed income markets are volatile as the macro outlook is unclear.
• Growth for the latter half of the year could be much softer than the first half.
• Credit card debt reached a new record high at a difficult time when credit card ra
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