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Chair Jerome Powell seems to be trying to reset market expectations.
CMBS fixed-rate conduits hit 4.46% distress while Freddie Mac K-series securitizations don’t even crack 0.20%.
And Wall Street doesn’t seem willing to wait and find out.
The Federal Reserve doesn’t necessarily disagree.
Mall visits showed a sizable bounce-back from September.
Almost all respondents believe asset values will be higher or the same in a year.
Services inflation is putting additional pressure on consumers.
A look at past patterns is very telling.
Much depends on what a Trump White House does.
Trump is seen as good on taxes, but fixed-income investors have concerns.