Cetera Weekly Recap
Equities Retreat from Fresh Record The S&P 500 registered its worst weekly start to a year since 2016 on concerns the Fed will raise interest rates at a faster pace to combat inflation. After setting a new all-time high on Monday, the benchmark equity index tumbled 1.94% on Wednesday after the Fed’s December policy meeting minutes revealed that a series of rate hikes may begin as early as March. The 10-year Treasury yield rose above 1.80% briefly. The quick jump in yields sparked a rotation out of higher-growth equities into cyclical value-oriented stocks.
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