The start of 2024 brought about a sense of uncertainty following the robust performances witnessed across various market sectors in the last few months of 2023. In early January there was a perceived overreaction to the FOMC pivot and benign economic indicators, resulting in a retracement of both equity and bond prices. However, as the month unfolded, a favorable “goldilocks” scenario emerged, characterized by lower inflation and a resilient consumer outlook. This contributed to a mixed performance for both equities and bonds. Expectations of the Federal Reserve transitioning away from restrictive monetary policies sooner rather than later gained momentum and was clarified further by Chairman Powell during the January meeting. The Fed actions, along with a few other month-end news reports, prompted a decline in interest rates, allowing stocks to continue their upward trajectory reminiscent of the trends observed in 1999.