Ignoring the Federal Reserve’s determination to keep raising rates and hold them there is a wildly profitable trade on Wall Street right now. It’s trying to swim against the rising market that carries risks.
“Fighting the Fed” has actually been a winning stock-market strategy for months. The S&P 500 Index is up 15% since the start of the fourth quarter and 16% from its October low, putting it within striking distance of the 20% threshold many investors define as the start of a bull market.
