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Macro Riddle Has Just One Solution
The recent rally in equities in part reflects the market front-running an eventual negative payrolls
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Really appreciate seeing summaries of leading strategists here, even when I don’t agree with their outlooks. Soft landings do happen, but not the usual case. Given a pandemic and a war, the fomc would have to pull a “sullenberger” to get one. But they should try. So in this case, I would have to agree with the outlooks for a poor outcome.
The FED is plateauing,a form of easing, but not quite what we had the last 15 years. The days of free money may be over.