Takeaway from today's FOMC meeting = no rate cuts any time soon, but a lot less QT. However focusing on the short-term developments like this can cloud the bigger picture issues...
"As long as inflation is pro-cyclical (demand-pull), stocks tend to perform well, as higher inflation is associated with stronger growth. When inflation is counter cyclical (cost-push), however, stocks suffer."
Jamie Williams, EIG Wealth Advisor, talks with Barry Mendelson, CEO of Capital Market Consultants, about the significance of investment research for due diligence, quality metrics, and diversification of portfolios.
After gaining 28% in a straight line since the last “wobble” (last October), the S&P 500 index is wobbling again and is down 2.4% from its April 1st high.
US Treasury yields on the long end have risen to their highest level since November, dampening risk appetite and putting the S&P 500 on track for its third consecutive weekly decline.
