Jurrien Timmer’s global macro view – December 11, 2023

On the program today, Fidelity Director of Global Macro Jurrien Timmer with his weekly discussion on macro themes on his radar for the trading week ahead.   Jurrien says recent job reports reveal that the job market is slackening, excess demand of labor came out of the pandemic, so does this signal a move by the Fed to consider timing of possible rate cuts? Historically, a hiking cycle ends because the Fed has broken something, which results in a recession. The inverted yield curve signals a recession could be coming. But it looks like the market is confident that the Feds have stuck a soft landing. However, Jurrien says being right about a Fed pivot and soft landing doesn't lead to what the market would do as that all depends on price. The market often rallies before earnings recover.

Recorded on December 11, 2023.

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