2023 might be one of the most unexpected years of all time, certainly as the markets and economy are concerned. It seemed like everyone was calling for a recession. It never came. Most unexpected might be the magnitude of the stock market rally, which looks to be ending the year with a punctuation mark!
As we head into 2024, the major themes I’m watching include:
Potential for Fed rate cuts
Is the economy truly slowing based on persistently high borrowing costs and increasing household debt levels?
Stock market may see high single-digit gains; S&P 500 price target 5,090 (+7%-8% higher) according to Fact Set
Bond price rally as yields continue to fall
Housing market and affordability likely to remain challenging
Ongoing geopolitical conflict and how much money we’re sending abroad
Election year and nasty, divisive politics
Listen to this episode to hear my thoughts on these factors and more.
Ep 34: The Year No One Called [Correctly]