The Financial Post reports in its Wednesday edition that in the latest warning for investors unleashing dovish monetary wagers across the board, two-thirds of Bloomberg respondents said betting on early monetary easing is the "most foolish" among trades heading into 2024. A Bloomberg dispatch to the Post says that even as the S&P 500 closed Jan. 19 at an all-time high, the results indicate rising anxiety on Wall Street that the bulls are going too far. Already, traders who ended 2023 with an optimistic forecast of six rate cuts for this year have pared down that wager to five. They are also less certain that policy-makers will kick off their monetary easing cycle in March, as was nearly priced in during the frenetic rally of late 2023. Janet Mui, head of market analysis at RBC Brewin Dolphin, said the reacceleration of inflation in some major economies and resilience in U.S. employment data result in an important challenge for the market's interest rate expectations. "The early start and number of rate hikes priced in was incompatible with the soft-landing view," Ms. Mui said. Federal Reserve Bank of San Francisco president Mary Daly on Jan. 19 said it was "premature" to think rate reductions are around the corner.