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Wall Street Journal and Sierra CIO James St. Aubin Talk Tightening Financial Conditions

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Many investors on Wednesday looked to the Federal Reserve for hints about whether this autumn’s unusual ascent in Treasury yields would help finish America’s inflation fight. The central bank’s message: maybe.

In the tug of war between low-risk government debt and higher-risk equities, that was enough of a signal to push stocks higher Wednesday. The Dow Jones Industrial Average rose 0.7%, or 222 points, while the tech-heavy Nasdaq Composite added 1.6%. The S&P 500 increased 1.1%, led by the information-technology and communication services sectors.

The thoughts and opinions expressed in the article are solely those of the person speaking as of 11/1/2023, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this article is made on a general basis and is not to be relied upon by the reader as advice. The reader must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this article, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.

0299-SI00XLAP 11082023

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