FOMC Preview: Fed Aims For Smooth Passage Into 2020
(3 min read)
[Market implication: US curve steepens]
Cracks are forming on the fringes of credit markets, but most asset classes are doing well year-to-date and have avoided any major corrections. Even the likes of BBB credit have managed to fully reverse the widening move of 2018Q4. Meanwhile, stocks, which many portray as hanging on by a thread, are near record levels. Equally interesting is that equity indices have entered into each Fed meeting this year near their highs...
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