2024. A year of boundaries following the biggest global interest rate shock in a very long time. Greenspan took rates up gradually to arrive at the same terminal rate. 2022 was a shock. 2023, aftershocks. The setup for 2024 looks better. Chair Powell’s pivot was the right one in our view, but expectations will need to be managed with a keen focus on the employment market in 2024 and the election later this year. Wishing everyone a great year ahead!

Get your updates each week with Gregory Faranello, CFA–Head of U.S. Rates at AmeriVet Securities.