The Financial Post reports in its Tuesday edition that Wall Street investors and analysts spent months strategizing how to position for 2024. A Bloomberg dispatch to the Post reports that the United States Federal Reserve chairman Jerome Powell shredded their best-laid plans in a matter of minutes last week. Even the most ardent stock and bond bulls were caught off guard by the central bank's decision to signal the end of its historic monetary-tightening campaign with a dovish 2024 pivot. In the aftermath, the Dow Jones industrial average and Nasdaq 100 surged to records, while bonds soared, credit boomed and risky assets around the world rallied. The dramatic moves upended countless outlooks. JPMorgan director Philip Camporeale increased the equity allocation in his stock-bond portfolio to the highest in nearly two years after Mr. Powell's speech. Tolou Capital's Spencer Hakimian said signs the Fed will start cutting rates as soon as the first quarter prompted him to wager on a steeper yield curve. As investors weigh how to approach the new year, serious questions are being raised over how much juice markets have left, and whether both stocks and bonds can continue to rally in tandem in the months to come.