Santa Claus is coming to town
With inflation persevering in its cooling path from the latest monthly inflation data, labour market remaining robust with jobs data showing strength, and consumer spendings still resilient as demonstrated by $Target(TGT.US$ ‘s latest quarterly earnings release yesterday, expectations have been building on an end to the rate hiking cycle and a soft landing of the US economy, avoiding a recession.
The bond market has also agreed with the optimism by receding from its recent yield heights. The stock market has been heaved a sign of relief with the Treasury 10-year bond yield falling, as borrowing costs may have peaked and growth stocks are poised for revaluation on lower discount rate.
These may be signs that Santa Claus is coming to town and going to bring more cheers to the market :)
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