Sigma Signals

Week of December 11, 2023

Have interest rates peaked, at least in the short term? Are equity prices poised to exceed former highs? Or are equity prices riding a “sugar high”? Does the recent resignation of the president of the University of Pennsylvania signal a movement away from extreme partisanship as both democrats and republicans called for her ouster? Might we now expect a more reasoned set of social and civil interactions leading to less social unrest?  We ponder these questions for insights as to what the immediate future for the capital markets (and society, for the matter) might hold. For now, our Signals remain unchanged.

Bob Bilkie, CFA