Wall Street Bets on Soft Landing Again in Best Month Since 2008
- Speculative corners from meme stocks to profitless tech rose
- Chair Powell pushed back Friday on the prospects for rate cuts
Volatility has fallen to pre-pandemic lows and a Goldman Sachs Group Inc. gauge of global risk appetite has hit near the highest level in two years.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
For all the bullish milestones notched by November’s big market surge, recent history offers Wall Street a lesson in caution.
Time and time again, speculation breaks out that the Federal Reserve is poised to ease monetary policy soon enough — spurring even cautious investors to erupt in a spasm of cross-asset buying. Stocks jump, bond yields fall, and a dash ensues among equity speculators into shady corners encompassing everything from meme fliers to crypto and profitless tech.