Morning Note | August 25, 2023 | Some Decent Buys, One Sell
Summary
Stocks initially rose but reversed course after Jay Powell's speech, with rates also increasing.
Powell stated that inflation was still high and hinted at further rate hikes, leading to a greater than 50% chance of a rate hike in November.
Bonds are becoming more favorable compared to stocks, with a shift towards bonds in asset allocation making se…
