“December has a well-known history as being a strong month of the year for stocks,” Bittles added. “In fact, it is the strongest month of the year for U.S. stocks on an absolute basis. Stocks have rallied over the course of the month about three quarters of the time.”
The markets retreated slightly on Thursday as President Trump spoke with reporters at the White House prior to his departure to the G-20 Summit where he was tepid about a possible trade deal.
“I think we’re very close to doing something with China but I don’t know that I want to do it,” Trump said. “Because what we have right now is billions and billions of dollars coming into the United States in the form of tariffs or taxes, so I really don’t know.”
For more trends in fixed income, visit the Rising Rates Channel.