In an interview with FOX Business, Edward Moya, a senior market analyst for OANDA in New York said, "It looks like the Grinch is here to stay."
"Investors are nervous that we have yet to see the true impact of global central bank tightening, and they will remain overly defensive and shy away from interest-rate sensitive sectors," he explained. "Boring stocks with nice dividend returns will start to look attractive again, while some investors will give fixed income a good look as yields become more attractive than investing in some of the major indexes.
Federal Reserve Chairman Jerome Powell attends a news conference following an Open Market Committee meeting, at the Federal Reserve Board Building, Wednesday, June 15, 2022, in Washington. Central banks in the U.K., eurozone, and Switzerland have all increased interest rates by 0.5 percentage points, following the Federal Reserve’s continued strategy of scheduled interest rate hikes, leaving many investors on the sidelines until an end to the rate hikes is announced.
Can you say $1.7 TRILLION!!!!!