Key Takeaways:
US stock market reacts in an increasingly complicated and bifurcated manner to Consumer Price Index (CPI) statistics
Resilient labor market despite cooling inflation complicates the Fed’s effort to shift toward a pause in the rate-hiking cycle potentially
The Fed raised the benchmark interest rate by 25 basis points (bps) again, but hinted at a pause
Under elevated volatility, we anticipate a favorable outlook for fixed income but a gloomy one for equities
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