Reserve’s seemingly clear commitment in March to lower interest rates at some point this year— or with fearful memories of past inflation and economic forecasts gone wrong. There will be a large number of speeches by Federal Reserve presidents this week, as well as the always-important monthly employment and labor cost numbers, yet the mood is likely to stay unsettled. The strength in equity markets will likely persist for as long as the economy/earnings are resilient and bond yields don’t rise in a disorderly manner. However, valuations are increasingly putting pressure on the “margin of safety”. On the wealth planning front, we discuss the potential national shift in real estate commissions.
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