Stocks came under pressure last week and the US 10yr Treasury yield rose back above 4%

Investors are generally optimistic going into 2024 and expect the Fed to cut rates as early as March but stocks came under pressure in a cautious first week of the year and the US 10yr Treasury yield climbed back above 4%.

Minutes from the December Federal Open Market Committee (FOMC) showed members agreeing to maintain a restrictive approach for now while expecting to cut rates before the end of the year.

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