Since the Fed’s initial rate cut, rates have been going the wrong way. Paradoxically, long-term rates have risen. This can be due to the market being priced in increased growth and inflation expectations. This can mean that the relief some industries so badly need, like housing and auto, may not be coming as quickly as we hoped.
We will continue to monitor and focus on the intensity of the current storm, and any signs that the storm is ending and the medicine is working.