Risk-Addicted Wall Street Funds Are Shaken as Bad News Piles Up
- Geopolitical tensions push S&P 500 to worst week since October
- Brent crude and the dollar soar as traders flock to safety
This article is for subscribers only.
Just weeks ago, it all felt so easy. Jerome Powell was poised to kick off the great monetary pivot in earnest thanks to the steady demise of inflation, while Corporate America’s famous profit machine vindicated the euphoria on Wall Street and beyond.
Now after a week of geopolitical tensions and bond volatility, life is getting harder for money managers who are sitting on some of their highest exposures to stocks and credit combined in a decade.