Been Hedging Around the Pivot? Don’t Stop Now: John Authers

To get John Authers’ newsletter delivered directly to your inbox, sign up here.

Something Must Give

It can’t carry on like this much longer. We now know that Corporate America is in much better shape than many had thought, largely because the American consumer is also far more robust than many believed. The labor market remains obdurately healthy. And yet the confidence with which bond markets are now betting that the Federal Reserve must “pivot” (start cutting rates) and do so imminently has never been greater. This divergence has been present and growing for a while, but some resolution must now ...