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The Fed and the market are both right

Money pours into money market funds as investors remain nervous. Fed and market divergence, commercial real estate, and Apple's defensive strategy.

  • Investors seek safety as $286bn poured into money market funds in March.
  • The two-year yield has fallen by almost half a percentage point since the Fed's press conference.
  • Different actors with different priorities behave differently, causing divergence between the Fed and the market.
  • Commercial real estate is a growing worry for investors.
  • Apple's loyal customer base makes it less vulnerable to recent tech stock dips.
The Fed and the market are both right
Also, more on CRE, and Apple vs Google