Easy, Tiger.
The happy clappy days of late 2023 already seemed like a bit of a distant memory at times last week. This was the worst four-day start to a calendar year across all stock and bond asset classes since Shakira indicated that she was available whenever, wherever in 2002.
The chance to enjoy a second long weekend in a row seemed to have sobered Wall Street traders up a bit. Upon re-entering the arena on Tuesday, they appeared to have reined in some of their more outlandishly optimistic interest rate cut expectations and the market kicked off 2024 by battering 2023’s winners.
In fact, the NASDAQ…
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