Marketmind: Santa rally? Ho ho ho

There's a reason investors are warned not to fight the Fed, but sometimes they still need to learn the hard way. When the second most powerful central bank in the world is standing shoulder to shoulder with the Fed too, markets are bound to get a bloody nose. This is essentially what happened last week - a sea of red across Wall Street and world stocks after the Fed and European Central Bank raised interest rates by 50 basis points and gave the clearest signals to date that they are far from done. Of course, the Fed is nearer the end of its rate-hiking cycle than the ECB, which is perhaps why rates markets continue to bet on a pivot by Fed Chair Jerome Powell later next year eve...

Keep on reading: Marketmind: Santa rally? Ho ho ho

from INQUIRER.net https://ift.tt/KcYP1RD