The market just seems like it can’t find the middle
The market just seems like it can’t find the middle: Sevens Report Editor, Tom Essaye, Quoted in Barron’s
The Stock Market Keeps Going Back and Forth on Interest Rates. How to Play It.
“The market just seems like it can’t find the middle,” Sevens Report Research’s Tom Essaye told Barron’s in a phone interview.
Essaye says he can make the case that the economy is slowing, or not, based on a wide swath of data that’s available. That’s why every individual release has so much sway on the market’s day-to-day. Stocks were mixed on Tuesday, aside from tech, after Minneapolis Fed President Neel Kashkari said the Federal Reserve hasn’t formally taken rate hikes off the table and is prepared to keep rates steady until inflation hits the central bank’s 2% target.
“This is the world we’re in for now, until economic data gives us a clear direction as to where we’re going,” Essaye says. “I think we just sort of have to brace ourselves for this kind of back and forth. I think the net result for investors is that there’s just going to be more elevated volatility.”
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