A “recession continues to be the focal point of the debates on
“It was a very interesting day. A week ago, the market was pricing (Fed benchmark) rates at over 4% with a peak in Q3 2023. Now, they expect 3.5% with a peak in Q1 2023,” the analyst summarized.
“At the same time, we are witnessing a global repricing, such as commodity prices that are at fifteen-month lows or energy prices that are at one-month lows,” Haeling noted.
“We are facing big decisions in the equity market (…) Should we sell because we are going into recession or buy because the breadth of rate hikes will be smaller and (the rise) faster than we thought?” he added.
Powell, for the second day of congressional hearings, “maintained his hawkish stance” against inflation, Moya said.
Among the day’s stocks, FedEx gained 2.91% to