Markets have 'lost the plot' on interest rates: Strategist
Вставка
- Опубліковано 3 лип 2024
- June's Purchasing Managers Index (PMI) data release shows signs of economic acceleration, with a reading of 54.6 surpassing economist expectations of 53.5. JPMorgan Asset Management Global Market Strategist Jack Manley joins Catalysts to discuss his market (^DJI, ^IXIC, ^GSPC) outlook in light of this data.
Manley expresses frustration with the prevailing market theme of "good news is bad news," stating: "I think we have totally lost the plot of what interest rates are all about." He emphasizes that the Federal Reserve does not desire a recession.
"We aren't supposed to be rooting against the economy accelerating, that is a good story," Manley tells Yahoo Finance.
Regarding the Fed's approach to rates, Manley observes that the Fed "is not always data dependent, they rely a ton on forward guidance." He criticizes the central bank's handling of monetary policy post-pandemic, suggesting that instead of speculating on the Fed's actions, individuals should "focus on more tangible" outcomes.
"I don't know what's gonna happen to rates over the next six months. I don't know what's gonna happen to the data over the next six months, but I do have confidence that rates will move lower over that longer-term time period," he tells Yahoo Finance.About Yahoo Finance:
#youtube #news #stockmarket
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (apple.co/3Rten0R) or Android (bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: / yahoofinance
Instagram: yahoofinanc...
TikTok: www.tiktok.com/@yahoofinance?...
Facebook: / yahoofinance
LinkedIn: / yahoo-finance
ROARING 20s.....
Democracy Wins!
More like "Market's lost their minds" on interest rates. And as much as it pains me to admit, Democrats made it happen. Vote wisely, people.