The Five Forecasters still favor the continuation of the current bull market
and no recession.
Emerging markets debt (EMD) valuations have cheapened in recent weeks,
as weaker Chinese economic data and lower oil prices pushed prices lower
and yield spreads higher.
The latest Beige Book
suggests that the U.S.
economy is still growing
near its long-term trend.
However, Main Street’s
suggests that the
continues to be affected
by oil and energy prices.
The number of bulls is dwindling. In periods of extreme market volatility
such as we have experienced in recent weeks
In Part 2 of our Federal Reserve (Fed) rate hike playbook, we assess how
municipal bonds have fared during periods of Fed rate increases.