- The Fed's minions sold the message last week that the surge of inflation is mostly transitory and won't require the Fed to start boosting U.S. short-term interest rates before 2024.
- That message seemed to take hold among investors, with the S&P 500 returning to record high levels on the expectation that outlook will hold.
- The trajectory of the S&P 500 falls well within the range of the latest redzone forecast in the alternative futures chart, which is based on the assumption investors will mostly focus on the upcoming quarter of 2021-Q3 over the next several weeks.
For further details see:
The S&P 500 Returns To Record Highs