Stocks (^DJI, ^IXIC, ^GSPC) closed lower on Thursday as investors eagerly await Federal Reserve Chair Jerome Powell's speech from Jackson Hole on Friday. T. ...
) closed lower on Thursday as investors eagerly await Federal Reserve Chair Jerome Powell 's speech from Jackson Hole on Friday. T. Rowe Price Global Head of Multi-Asset and Chief Investment Officer Sébastien Page joins Market Domination to share his market outlook.
Regarding Powell's upcoming Jackson Hole address, Page notes,"Markets want to hear that cuts are coming, markets want reassurance." He adds an intriguing perspective on Powell's likely approach:"You know what Powell wants? I think he wants to satisfy the markets. He doesn't want to rock the boat."Markets under pressure dragged down by the tech sectors.
We've studied 12 Fed cutting cycles over 70 years, and we found that 12 out of 12 times bonds outperform cash by an average of 8%.We're looking at starting to move some of that cash into diversified bonds and you don't have to time it, understand the 10 years low now, relative to its range of the last two years.But Fed cutting cycles usually good for core bonds.
There is risk in my mind that the market is underestimating the possibility of a not a huge move up in inflation but a surprise up in inflation inflation swaps, which represent what the market is pricing in.Uh, Sebastian, about the election.
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