Rate Update (5/12/2023)

This week saw a significant amount of economic data released showing an overall decrease in inflation year over year. Together with relatively steady unemployment data has the Fed's desired “soft landing” very much still on the table. With the market pricing in an almost 100% chance the Fed pauses rate hikes at its next meeting, there seems to be a light at the end of the higher rates tunnel. However, there are still significant issues hanging over markets. The Regional Banking sector is still looking for solid ground after another scare last week. The United States is inching ever closer to default as Washington is debating whether to raise the debt ceiling. While we are optimistic for the road ahead, there are still some major potential speed bumps and because of this, we expect volatility to be around for a little while longer.

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