The US economy continues to roll along. December’s labor report showed 261,000 new jobs, a vigorous uptick from the 173,000 number in November.

Market observers took this as a sign that the Fed’s projected three rate cuts for 2024 may be more back-ended. Quantitative tightening, which has been draining liquidity from the financial system, may also be under review…

(Any “forward-looking” information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition Past performance is no guarantee of future results. Investing involves risk; principal loss is possible.)

▶︎ Read January 8th 2023 Newsletter: here