Skip to main content
Economic Analysis

Stupidity is the Same: November 18, 2023

Good morning, and welcome to the Weekender for Saturday, November 18, 2023. It was another supportive week for determined bulls. Interest rates peaked on October 19, 2023 and have been in freefall ever since. A newfound resolve among many that the Federal Reserve is done raising rates has economists and strategists on their heels, trying to predict when they will begin lowering their benchmark. Financial markets pushed market interest rates lower in anticipation of expected Fed action. US equity markets, as measured by the S&P 500, rose by 2.2%, a strong return and continuation of a powerful trend. Bonds have also been on a tear. Since market interest rates topped, the S&P 500 has increased by 5.5%. Over the same period, the tech-heavy Nasdaq is higher by 7.1%, and the Nasdaq 100 index, comprised of the largest tech companies, is also higher by 7.1%.

Click here to download the Weekender PDF File