The DC Today - Thursday, September 21, 2023

Episode 705: The DC Today - Thursday, September 21, 2023

Markets were slammed today, with the Nasdaq down -1.8%, the S&P down -1.65%, and the Dow down -1%

Show notes

Today's Post -

The violence was most felt in the bond market as yields rallied dramatically at the long end of the curve. As yields did not move much (or at all) in the short end of the curve, you saw a fair amount of inversion eroded. It is all a rate story now – as stocks are following bonds, not vice versa. QT is tightening, and high rates are tightening (with the bond market doing more of it for them). Something has to break eventually.

The Bank of England also left its interest rate alone, pausing after 14 consecutive increases.

The House GOP was four votes short of having the votes needed to advance their compromise funding bill. Some tweaks are in motion to allow for a new vote next week.

Links mentioned in this episode:


David Bahnsen

David Bahnsen

David is the Founder, Managing Partner, and the Chief Investment Officer of The Bahnsen Group.

View episodes


Subscribe now

Get new episodes of The Dividend Cafe automatically