Matt Ferratusco, CIPM, Portfolio Manager

The market keeps cooling on the Federal Reserve’s rate hike plans, even though the Fed and inflation aren’t cooling. Like the broken-hearted who with short memories keep returning to their heart breakers, markets are caught in a cycle of denial as to how far the Fed wants to move on and move up, instead discounting the Fed’s plan to jack up our discount rates. What follows, in near scripted fashion, is heartbreak meltdown when Fed officials reiterate they aren’t interested in how we feel. Despite the Fed telegraphing its next move, warning against a false sense of security, and its carefully curated words designed to let the market down gently, gently down it does not go. Lather, rinse, and repeat, before and after each recent FOMC meeting or Jerome Powell speech.

In a year characterized by unprecedented use of “unprecedented” to describe record-shattering market mania in both directions, financial markets are back to hovering around all-time highs from their March 2020 lows.

You’re hearing it every day – the bull market will become the longest in history this week, officially on Wednesday, August 22, 2018. The...

You’re hearing it every day – the bull market will become the longest in history this week, officially on Wednesday, August 22, 2018. The...

Any day now, the S&P 500 is poised to break back above its all-time high, and will officially become the longest bull market in...

Any day now, the S&P 500 is poised to break back above its all-time high, and will officially become the longest bull market in...

We are currently in the second longest bull market in history. In just a few short months, it is set to become the longest, even...

We are currently in the second longest bull market in history. In just a few short months, it is set to become the longest, even...