The Correction's Back

Price action picked up its choppiness this week. Both stock and bond prices fell. Higher interest rates are finally mattering. It sure has taken longer than we anticipated. The 0% interest rate environment from the last decade and a half has completely come unwound. It's a healthier place for the Market to get to. But the process of recalibration has been beyond bumpy. The correction began in 2022. It paused for much 2023. September made it clear, it's back.