Money Life With Chuck Jaffe Daily Podcast

Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Co., says a recession is likely for 2024, which will create some market pain as it extinguishes "the final embers of inflation which aren't burned out yet, namely wage growth." Schutte expects the market to struggle but notes that conditions are great for fixed income, though he warns against investors hiding in the short-end of the yield curve because rates will start to change next year, and investors who are focused on making the highest yield now will wind up facing reinvestment risk once the yield curve flattens or reverses its current inversion. Meanwhile, talking technicals, Brad Lamensdorf of the Lamensdorf Market-Timing Report and the Ranger Equity Bear ETF says the market is due for "a scary moment" likely in the spring or the summer of 2024, when there is a value reset. Lamensdorf notes that "We don't need a recession to have a 20 or 25 percent correction and I think one of those probably is due next year at some po