Stocks have embraced the concept of a soft landing so far in 2023. Bonds are trading like a recession is nigh. Only one can be right.
What soft landing, we can hear you say? The
Dow Jones Industrial Average
after all, finished the week down 2.7%, while the S&P 500 slipped 0.7%. But the
is still up 3.5% this year, and the
which rose 0.55% this past week, has gained an even more impressive 6.4% in January.