TURNING-OF-THE-CALENDAR OPPORTUNITIES

The 'tourist reviews why year-end often marks changes in market themes

It’s been quite a finish to 2023. After a hawkish September FOMC meeting that sent the bond market into a tailspin (the US 30-year T-bond yield rose from 4.38% to 5.10% within a month), the Federal Reserve pivoted and proclaimed their tightening over (“the moves in financial conditions had done the work for them”). And then, in a surprise development at…