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Rally Music Or Siren Song?
Investors are getting "drawn in."
So said JPMorgan's Mislav Matejka on Monday.
"Drawn in" has a negative connotation. It's just "sheep to the slaughter" without the bloodletting. "Drawn in" then drawn and quartered.
I want to say no one trusts the rally in 2023, but it's impossible to make those kinds of unequivocal statements. Someone, somewhere clearly trusts it, because money's being thrown at it.
Of course, that's an exercise in question-begging in this context: The fact that so much of
