. While investors are fearful that more rate hikes will put the three-year long economic expansion in jeopardy, recent economic data suggests that the economy could take a bit more tightening.
Monetary policy has a lagging effect, Porter noted, adding that households still have plenty of savings they've used to satisfy their pent-up demand for travel and other in-person activities. "Despite a solid start to the year, we continue to look for a mild slump this year due to tighter financial conditions, as reflected in the sharply inverted yield curve and a lengthy decline in leading indicators," Porter wrote.
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Stock market at risk as retail investors abandon 'buy the dip' strategyThe stock market is on weak footing as retail investors abandon the 'buy the dip' strategy and turn to higher yielding bonds
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