Another soft session for stocks today as the market latches on to the growth concerns permeating through the bond market – we talked about the front end of the yield curve inverting this morning – read here – and what it means for different stocks/sectors, however at a high level, it seems the often transient market is now latching onto softer economic data (GDP for example) and rhetoric implying that unemployment will be on the rise next year, in short, aggressive interest rate hikes are working and the economy is cooling, let’s hope they haven’t turned the screws too hard too fast.
