Markets Glow in the Aftermath of the Fed

Keep an Eye on Those Triple-C's

Highlights

• Global markets are playing catch-up to yesterday’s Fed-inspired rally, with one exception — China

• Let’s assess the facts… the +4.9% Q3 real GDP growth print does not mean that a recession can’t follow

• CCC spreads are the canary in the coal mine, just as they were back in 2000 and 2007

• Homebuilders are feeling the impact of higher rates, as the group approaches an official bear market