Rate Cut + $40B/Month: Is the Next Move a Rally—or a Rotation?
December 14, 2025 - Update
MACRO
We got a rate cut from the Fed, and it’s very likely we won’t see other changes until next spring. What will matter most is the labor market, GDP, and inflation data.
If you’ve been following me, you know what I monitor most closely: credit availability. Can companies borrow or refinance? Is it getting easier or harder?
