É um artigo onde o autor diz isto "My analysis of the data suggests that there is no rush either to underweight stocks or to rotate from cyclicals to defensive industry groups. Since 1960, the S&P 500 has peaked eight months after the trough in the federal funds rate, on average. The market’s momentum tends to peak at about the same time as interest rates begin to rise. But stock investors typically still gain for several months after the bottom in interest rates."
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