Weekly Market Recap – August 19, 2024
Recent data have sent mixed signals about the U.S. economy, causing interest rate expectations to fluctuate once again. Just two weeks ago, a weak jobs report sparked recession fears, and markets swiftly priced in an additional rate cut for this year. Since then, strong retail sales and low initial jobless claims readings helped alleviate these fears, and markets are now back to pricing in only three cuts in 2024. However, while short-term rate expectations dominate headlines, it is long-term rates that matter most to long term investors.
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