Pause, Skip or Hike, Leans Towards Hike
Closing in on halfway through 2023, there are three words that can be used to describe the US economy – too much momentum.
Source: etftrends.com
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Closing in on halfway through 2023, there are three words that can be used to describe the US economy – too much momentum.
Last week was a light week for earnings and economic data, but a heavy week for policy news.
Q1 2023 had the highest percent of companies beating earnings since Q3 2021, signaling analysts had become too pessimistic.
Last week the Fed raised rates 25 bps in what many expect will be the final rate hike of the cycle.
Economic reports and corporate data last week highlighted the cautious stance of corporations, contrasted against a resilient consumer.