Early Signs Emerge of Cool Down After Torrid 2023 Rally
• Popular trades from late 2023 like long stocks may have simply moved too far, too fast • Early signs of unwind of 2023 rally seen beyond just stocks, with shifts in dollar, Treasurys, gold, oil • After big rallies, stocks snapped 9-week winning stretch, marking worst start to a year since 2016 • Treasury yields saw biggest weekly climb in months, unwinding part of sharp drop from 2022 peak • Tensions in Middle East drove notable rebound in oil prices to start 2023, best week since October