Wall Street believes its soft-landing dream is on the verge of coming true. That is prompting a fresh wave of demand for stocks.
Markets have rallied since last week’s consumer-inflation report came in softer than expected. Many analysts and portfolio managers said they expect the gains to pick up heading into year-end, reflecting a sense that markets have faced down their most significant challenge: the potential for rising bond yields to crimp economic activity, reduce demand for stocks and send the U.S. economy into recession.
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