Market’s Favourable Response to 1st Fed Rate Hike in Nine Years Hinges on Intention to Raise Rates “Gradually”

Here’s What We’re Thinking

December 17, 2015

High yield credit spreads have widened to three-year highs, corporate earnings estimates are declining, pockets of the U.S. economy are decelerating, emerging market currencies and equities are shaky, commodities have taken a turn for the worse, and yet the Federal Reserve has followed through with a widely anticipated rate increase…

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