Is Reacceleration in the Cards? (Ep. 165)

In this week’s episode of Facts vs Feelings, Ryan Detrick and Sonu Varghese dig into the market’s latest shift toward a potential economic reacceleration, looking at rising global yields, what the renewed steepening of the yield curve may signal, and how broadening market leadership is shaping their outlook. They go through the rebound in tech, the breakout in commodities, stubborn inflation pressures, and the mixed but still-stable labor market. With the Fed’s next move approaching, Ryan and Sonu discuss what policymakers may be forced to confront as growth picks up and investors try to position through the final weeks of the year.

Key Takeaways:

• Global yields are climbing: The move appears driven more by improving growth expectations than by renewed inflation fears.

• The yield curve is steepening: Long-term rates are rising faster than short-term ones, signaling firmer economic momentum.

• Market leadership is broadening: Tech is rebounding while financials, industrials, and small caps are showing notable strength.

• Commodities are breaking out: A wide range of materials is moving higher, hinting at early reflation even without oil participating.

• Inflation is easing but still sticky: Price pressures remain above the Fed’s comfort zone as it prepares for additional rate cuts.

Jump to:

0:00 – Reacceleration & Markets Setup

4:55 – Global Yields, Carry Trade & Yield Curve Shifts

9:13 – Bear vs Bull Steepener Explained

16:40 – Tech’s Streak, Market Breadth & Sector Rotation

24:00 – Commodities Breakout & Late-Cycle Signals

32:20 – Inflation pressures: PCE, Services & Risks

38:30 – Fed Cuts, Labor Market Trends & Income Strength

Connect with Ryan:

• LinkedIn: Ryan Detrick

• X: @RyanDetrick

Connect with Sonu:

• LinkedIn: Sonu Varghese

• X: @SonuVarghese

Questions about the show? We’d love to hear from you! factsvsfeelings@carsongroup.com