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The Invisible Hand Meets the Visible Fist: Yield Curve Control
Over the last century, there have been 14 major bull markets in US equities.
On average, those cycles have lasted just under 5 years and delivered 177% gains.
S&P500 could go over ~9000 by the end of 2027
Actually, if we project that same trajectory onto today, we
Cutting Into Strength
The market expects the Fed to start easing rates, not because of a crisis, but while stocks and GDP are growing. That's rare, but hear me out.
As long as the Fed is cutting into strength, the market's instinct is to chase risk higher.
The risk-off
Pedal To The Metal?
The FOMC held rates at 4.25 - 4.5% as expected. Governors Waller and Bowman dissent in favor of a 25-bps cut. That's the first time since 1993 that two Governors dissented from the policy decision.
The Fed lowered its growth outlook, saying that “growth of economic