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With a paint-by-numbers policy decision, the Fed missed an opportunity to express itself more freely. And the market reaction this week reflects that.
The skies above Davos were unusually cloudy during the World Economic Forum. The annual winter gathering, on the other hand, had unusual bursts of sun.
While a U.S. default is exceedingly unlikely, what are the costs of political brinkmanship for global financial markets?
As economic trends shift, we believe 2023 will be characterized by continued volatility and in some cases, periods of risk-on market action.
