Investment banks and asset managers have wildly varying stock market and currency calls for 2024, reflecting deep division over whether the U.S. economy will enter a long-heralded recession.
The S&P 500 will end next year only about 3% higher than its current level, with a possible U.S. economic slowdown or recession among the biggest risks for the market in 2024.
Wall Street’s main indexes inched higher on Wednesday as investors parsed earnings reports and comments from Federal Reserve officials.
S&P 500 and Nasdaq extend gains as U.S. Treasury yields retreat on Fed’s rate hike stance.
Relentless selling of U.S. government bonds has brought Treasury yields to their highest level in more than a decade and a half.
The world’s biggest bond markets are in the throes of another rout as a new era of higher for longer interest rates takes hold.