Last week, the Dow Jones Industrial Average attained a historic landmark, reaching a record high, thanks to the Federal Reserve's dovish stance and tone. Notably, the core Personal Consumption Expenditures Index, the Fed's preferred inflation measure, showed a reading of 3.5% for October, down from 3.7% in September and 4.3% in June. As recessionary fears are ebbing, inflation has been falling and the Fed is likely to cut rates from 2024, a steepening of the yield curve is expected next year.