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Markets tried and failed once again this week to catch a Fed pivot, but with the central bank refusing to believe inflation has peaked optimism was eventually dashed. Another strong jobs report on Friday sent stocks tumbling in yet another tightening of financial conditions. It’s not just stocks, either. We discuss the move higher in Treasury yields, the rise in the dollar, and rising corporate bond yields from a long-term perspective and in the context of the Fed’s campaign to keep pushing policy tighter. OPEC+ was also in the headlines this week, and we give a full analysis, along with summaries of PMI indices in the United States, a preview of earnings season, analysis of mortgage rates’ surge, discussion of the housing market, recaps of multiple labor market data releases received this week, and much more in this week’s Bespoke Report.
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