In August, equities once again followed the rule of ‘don’t fight the Fed’. Ahead of Chair Powell’s Jackson Hole speech on August 22nd, markets, not the Fed, were pricing in multiple rate cuts. That optimism for easier policy, despite a still resilient economy, drove cyclical stocks to outperform defensives (white line) relative to the expected December 2026 Fed Funds rate (red line).
Alternative asset manager offering investment solutions that find a balance between asset protection and capital enhancement.
Alternative asset manager offering investment solutions that find a balance between asset protection and capital enhancement.