BoE Gov Bailey Speaks
Markets Dip as Investors Lock in Profits, but 2024 Still Ends on a High | Daily Market Analysis
Key events: New Year's Day - Early close The S&P 500 closed lower on Monday as investors appeared to secure profits after a stellar year, signaling caution as 2024 approaches its conclusion. The Dow Jones Industrial Average fell 418 points, or 1%, while the S&P 500 dropped 1.1%, and the NASDAQ Composite declined by 1.2%. The declines reflect profit-taking activity, a common trend during year-end trading, as market participants reassess risk and recalibrate portfolios.
QT as the Fed's Last Resort | Daily Market Analysis
Key events: US – Martin Luther King, Jr. Day UK – BoE Gov Bailey Speaks The recently released CPI is prompting investors to question the Fed's plans to raise the overnight rate above 5%. The market doesn't seem to care, and after this data coincides with the forecast, yields are falling across the curve. Thus, 2-year Treasury yields have fallen to their lowest level since October, with room to fall substantially.
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