Volatility has ruled the stock market since the 2021 bull market ended at the start of 2022. Stocks made a nice run during the first half of 2023 but have turned down into correction territory since the end of July. The recent decline in stock prices is tied to rising yields in the bond market. Higher bond yields were not what market pundits predicted a few months ago.
In the debt markets, short-term interest rates are set by the Federal Reserve Board with its Fed funds rate.
But long-term interest rates don’t work that way. And that has huge implications for income investors…
This post originally appeared at Investors Alley