Macro Risk Advisors Warns of 8% to 10% S&P 500 Correction as Fed Tightens

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โดย GuruFocus·US·Read original
Summary · why it matters

Macro Risk Advisors founder Dean Curnutt warned clients that the S&P 500 faces an 8% to 10% correction, with a potential second leg in December, as the Federal Reserve prepares for a potential new rate-hike cycle. In a Monday note cited by Bloomberg, Curnutt said higher borrowing costs could squeeze corporate margins and deliver a volatility shock to a market unprepared for tighter policy. The S&P 500 has slipped nearly 1% so far in September as elevated energy prices and persistent inflation pushed the 10-year Treasury yield to its highest level in nearly two decades, and markets are now almost fully pricing in a quarter-point Fed hike, versus roughly 60% odds a week earlier. The Fed's Sept. 15-16 meeting concludes Wednesday, with its policy announcement scheduled for 2 p.m. ET. Curnutt's roadmap draws heavily on 2018, when the S&P 500 peaked in September, dropped roughly 10% through October and November, and then saw another wave of selling in December push the decline from the peak toward 20%.

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relevance

Macro Risk Advisors is the author of the correction warning, not a traded asset affected by it

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