Jurrien Timmer's global macro view – April 1, 2024

Joining us on the program for his weekly look at the markets is Director of Global Macro Jurrien Timmer.  Today Jurrien discusses inflation rates, a bullish outlook on the market, and Fed rate cuts. Jurrien says the stickiness of inflation continues. Hoping the rate would go down to 2% but 3 is now the new 2. What this in turn means is that the Fed could still cut rates, but it will probably cut less this year. Jurrien says the Fed could cut rates in June, but with the election season close don’t get your hopes up. As the Fed maintains its restrictive stance, warranting caution, Jurrien says the market appears resilient and is broadening. Markets adapt to Fed's reduced rate-cutting expectations and there is bullishness in the market as well. A type of cyclical bull market, Jurrien argues. 89% of stocks are above their 200-day and looking back historically bull market duration ranges from seven to 18 months, with a median of 30. As always Jurrien will be sharing his charts, so please head to @TimmerFidelity on X to follow along.

Recorded on April 1, 2024.

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