Ben, we hardly new ya. The market had its feet up, smoking a Marlboro, when Aunt Bee jammed the fed funds rate thingy up everyone’s hooter. So the market thought that rates wouldn’t be raised for a year after the Fed ended their tapering in the fall. Aunt Bee said more like six months, so the market had a knee jerk.
It’s all still data dependent anyway, but I’ll play along.
This is Taper Two in my book, because every month or two now, we will fear the fed funds rate, just like we feared the taper.
It’s all silly and the market is still going way higher.
Carry on