Man, what a ride with rates this year (and equities I suppose)! Right now I'm feeling pretty good about shifiting a lot of cash to term debt over the last 4 months. I just missed the coveted 5% treasury note the day Ackman publicly said he was taking his rate bet off and long rates dropped back in the 4s. I bought a nice chunk of TIPS. Wish I had some more medium term nominals but you can't have it all I guess.
I follow the main inflation reports, (CPI, PCE, PPI, etc.) and the downward trend is quite strong. All that said, if I were the Fed, I personally would have preferred to maintain more hawkish rhetoric at least for a while. They pencil in 3 rate cuts for 2024 and now you have equities back to their highs and long rates plunging. This fights against what they're trying to do unless they do really want market expectations to start easing conditions.