Wall Street Traders Reel as Still-Hot Economy Fuels Rate-Hike Bets
- Stocks, bonds plunge in tandem in a reminder of 2022’s selloff
- Problem is economy isn’t slowing fast enough, says Melandri
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All of a sudden, the biggest interest-rate shock in decades is rousing traders from their slumber once again with soft echoes of 2022’s everything-selloff.
More than a year after central bankers began their forceful monetary tightening campaign, money managers just got blindsided by the latest signs that the world’s biggest economy continues to run hot. Cue a renewed in-tandem plunge in stocks and bonds like the bad days of 2022.