Ken Griffin Sees Opportunity In This Segment As He Anticipates Recession — 'We're Much More Cautious About 2024'
Portfolio Pulse from Bhavik Nair
Citadel founder Ken Griffin is increasing his focus on credit trading, particularly in the high-yield credit market, as he anticipates a potential recession in 2024. He expects the Federal Reserve to hike interest rates once more this year and then pause. Griffin is also optimistic about China's economic growth, expecting it to surpass government targets.
June 14, 2023 | 7:50 am
News sentiment analysis
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POSITIVE IMPACT
The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) rose 0.77% on Tuesday as Wall Street cheered inflation numbers and expectations of the Fed pausing its rate hiking cycle.
The positive sentiment around inflation numbers and expectations of the Fed pausing its rate hiking cycle led to a 0.77% increase in QQQ on Tuesday. This indicates a short-term positive impact on the ETF.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (NYSE:SPY) closed 0.66% higher on Tuesday as Wall Street cheered inflation numbers and expectations of the Fed pausing its rate hiking cycle.
The positive sentiment around inflation numbers and expectations of the Fed pausing its rate hiking cycle led to a 0.66% increase in SPY on Tuesday. This indicates a short-term positive impact on the ETF.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50