Stocks and Bonds Are Sending Different Messages. One of Them Is Wrong.

Stocks have embraced the idea of a soft landing to date in 2023. Bonds are buying and selling like a recession is nigh. Only one might be proper.

What tender touchdown, we will hear you say? The


Dow Jones Industrial Average


in spite of everything, completed the week down 2.7%, whereas the S&P 500 slipped 0.7%. But the


S&P 500


continues to be up 3.5% this yr, and the


Nasdaq Composite


which rose 0.55% this previous week, has gained an much more spectacular 6.4% in January.