Bloomberg: More from MF Symposium
Bloomberg writes "Inflation Is Fueling ‘Most Uncertain Time’ in Investors’ Careers," which tells us, "The current denizens of Wall Street have never seen a market quite like this. Volatility surged across assets last week as a worsening outlook for inflation and growth smashed US stocks and bonds. Inflation that's surging at a rate unseen in decades -- and proving unexpectedly sticky -- has sent central banks scrambling to reshape policy on the fly. And that has even hardened market veterans reeling in shock, with unprecedented amounts of money flooding into cash-like instruments and facilities. Investors gathered for the Crane's Money Fund Symposium in Minneapolis have been busy comparing notes in the wake of a historic week that saw the Federal Reserve jack up its overnight interest rate by the most in decades, prompting a huge whipsawing of the bond market and finally dragging the S&P 500 Index into a bear market." They quote Northern Trust's Peter Yi, "This might be the most uncertain time in our careers in terms of pace and what happens with inflation. There's just a lot of volatility out there, a lot of quick changes and last week was a great example of that." The piece adds, "Uncertainty about front-end rate policy and the outsized impact that is having on longer-term assets means more and more people are looking to park bigger chunks of their portfolios in cash." Click here to see Bloomberg's recap of the first day of the Crane’s conference."
