Bond market gets more optimistic over a December rate cut
Treasury market rallies as December rate cut odds rise
Highlights
Treasury market rallies as December rate cut odds rise
The Atlanta Fed’s wage tracker is anything but sticky
Financials and the Russell 2000 emerge as darlings as Semiconductors slump
The latest Q3 GDP revision wasn’t consumption-friendly
Key Takeaways
Equity Markets Surge Ahead with Financials and Small Caps Leading
Strong momentum in equity markets has powered the S&P 500 to its second straight year of 20%+ gains — a 1-in-10 event over the past century — just as strong seasonals are about to set in. Nvidia has started to stumble, mind you, but Financials and the Russell 2000 have emerged as darlings of late.
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