SPX, CRB & Gold performance after 1st Fed hike

Stocks, commodities and gold after the Fed raises the Funds Rate

The S&P 500 has been positive upon the first hike of the Fed Funds rate on the last two cycles. Gold did not do badly either, while commodities languished on the most recent cycle (it was a dis-inflationary yield curve flattener, after all).

Barring some kind of economic Armageddon, the 1st rate hike is coming in March. Commodities and gold kept on dropping until the hike on the last cycle. But it’s a completely different macro now so just take this for what it is, a simple picture of history for reference, and not a projection.

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