What Wall Street got wrong

Here's today's Big Take.

View in browser

Dec. 29, 2022

A trader on the floor of the New York Stock Exchange. Photographer: Michael Nagle/Bloomberg

Read the story With few exceptions, the best and brightest in stock and bond markets failed to appreciate how the inflation outbreak would upend the investing models that had for decades generated vast amounts of wealth for them and their clients. They failed to anticipate how the Fed would react, and failed to foresee how that, in turn, would trigger the worst simultaneous rout in stocks and bonds since at least the 1970s. Read The Big Take.

Listen to the podcast Our podcast is on a holiday hiatus this week. But check out this episode where Bloomberg's chief economist Tom Orlik explains why inflation is hanging on for so long. Subscribe and listen to other episodes on iHeart, Apple and Spotify.

Follow Us

Like getting this newsletter? Subscribe to Bloomberg.com for unlimited access to trusted, data-driven journalism and subscriber-only insights. You received this message because you are subscribed to Bloomberg's The Big Take newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue, New York, NY 10022