Weekly Commentary | October 22, 2023 | "Proceed Carefully"

Summary

• Stocks were lower due to unease about rising interest rates, but Federal Reserve Chair Jerome Powell suggested policymakers are in no hurry to tighten policy further.

• The de-inverting of the yield curve is a key signal for a recession, and there are indicators that suggest a recession may be on the horizon.

• Taxable CEF discounts reached the 92nd pe…