Blackstone's Byron Wien to the Fed: The stock market and economy don't need a rate cut to thrive

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Blackstone's Wien to the Fed: The stock market and economy don't need a rate cut to thrive

"When the yield curve inverts, you have to play attention," he said. "But it inverted this time because the long end went below the short end," meaning long-term rates falling were more than cause of the cross than short-term rates rising.

"This time it inverted from the back end and I think that is different," he said, adding that long term yields were falling in their inverse relationship with bond prices because investors were piling into fixed-income for safety when stocks were really selling off earlier this month.around 3,000 for the rest of the year, which would be about a 20% gain for 2019. The S&P 500 closed Tuesday at 2,900.

 

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Think of it as a political insurance policy.

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