We can expect markets to remain on edge as investors feverishly work to
decode every Fed utterance for clues on its intentions.
Value stocks offer opportunities with more attractive relative
valuations, which stand to outperform in a rising-rate environment.
EMs have benefited from the Fed’s hesitancy to move on rates because
this is keeping a lid on the U.S. dollar.
It stands to reason that a third straight month of strong jobs growth
might raise the odds of the Fed moving on short-term rates at its Sept.
Fed Chair Janet Yellen will address interest rates Friday from the
central bank’s annual meeting in Wyoming.