Capital Market Outlook

IN THIS ISSUE

• Macro Strategy — The Treasury Market Changed Its Mind: The sharp spike in the 10-year Treasury yield since the Federal Reserve (Fed) September rate cut reflects renewed risks of inflation from potentially excessive Fed easing.
  
  
• Market View — When Bulls Get More Bullish: Positive investor sentiment has been underpinned by a confluence of positive economic factors.
  
  
• Thought of the Week — What A Decade: America As The Envy Of The World: Taking the long view, and after accounting for a whirl of global crosscurrent, the U.S., in our opinion, remains the most dynamic and resilient in the world.​