Bond Market Getting It Right & Stock Market Today Getting It Wrong Based On Eco Data

"The stock market today momentum is likely to the downside. Next week could experience May lows. Not surprising to see the market weakness from the hawkish Federal Reserve. Though, wages are not increasing, which will keep inflation up. With less permanent income, there is less consumption," says George Tsilis. "Recent economic data does not indicate that the size of the interest rate hikes will change. Jerome Powell stated that inflation expectations must remain anchored. The fixed income market got it right, but the equity market did not," Joe Mazzola adds.