US equities (^GSPC, ^DJI, ^IXIC) faltered on Wednesday afternoon after a making a small rebound from a big loss on Monday. The 10-year Treasury yield () rose above 3.95%. With so much volatility, what should investors expect with markets as it gets closer to when the Federal Reserve is expected to make its first rate cut?
BlackRock Global co-head of bond ETFs Steve Laipply joins Market Domination to give insight into movements in the market.
Laipply comments on what he is advising clients: “Remain calm. The volatility is going to happen in these markets. We are in a period of trending markets for a while. We were very sort of sideways in rates, as an example, for the longest time started drifting down, and then the jobs report kicked us lower by a fair amount.”
When asked about a potential for a recession, Laipply states: “With policy being as restrictive as it is, there’s always a risk of that. But I don’t know that we tilt it into a likelihood of that. Certainly people could argue that the probability of that may have increased with some of this weakening data. But again, you have folks on the other side who will point to various aspects of the data…I do think we need some more corroborating data points to really to get a beat on whether we’re tipping into higher recession odds going forward.”
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