What do you think is happening now that the shutdown is finally over?
Host
Alan Reckstoff
We have the Fed on track to lower interest rates, UBS thinks it's more likely in December than market expects
So you think the Fed can lower because of weakness in labor?
Host
Alan Reckstoff
Fed can lower due to weakness in labor and lack of new data during government shutdown
Alan Reckstoff
Innovation coming on fiscal and technology side is exciting, including stablecoins creating $1-3 trillion new market for treasury bills
Alan Reckstoff
Looking for higher market next year, base case 7300 by June 2026, could go as high as 8000
At what price can you be excited about it? Does it get frothy?
Host
Alan Reckstoff
Could get frothy but not there yet, tariff fears have gone away, haven't fully processed new fiscal picture
There is risk of inflation, grocery prices rising, more Fed people worried about moving farther from 2% target
Host
Alan Reckstoff
Price of oil down to $58 barrel affects everything, haven't fully processed by marketplace, will see prices come down and stabilize