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Analysis of evolving market themes.

Fed's quantitative tightening (QT) will face constraints
The Fed is pursuing QT while being careful to avoid market disruption. Compare scenarios for QT and markets in Putnam's Macro Report.

High rates and lower bank lending may lift BDCs
Tighter bank credit conditions may drive new growth opportunities for some business development companies (BDCs).

Economic Update for September 18, 2023
Highlights of key economic statistics from last week compiled by Putnam Investments.
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