Colossal Bond Rally Has Wall Street Grasping At Straws

If the seven-week stock rally put Wall Street's more bearish top-down equity strategists behind the proverbial eight ball headed into 2024, the concurrent bond rally did the same to some rates strategists. The S&P 500 is currently above half a dozen Wall Street 2024 year-end targets, and some strategists have already marked their forecasts for next year to market. Just weeks after setting them. On the rates side, the never-ending bond rally (fueled in part by what, on one bank's estimate,