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Mike Wilson Gets A Win
Mike Wilson nailed it.
Or as much as you can nail it after sitting out the first half of a historic five-month risk rally and adopting an ambivalent attitude towards the rest of it.
A few weeks ago, Wilson suggested that if 10-year US yields broke above 4.35%-4.40%, equities would notice and multiples would compress.
One of the defining characteristics of 2024's rally is (or was, past tense, if you believe last week's pullback presaged a proper correction) equities' disregard for rates. The j
It is important to keep reading capable and thoughtful strategists even when they are “wrong”. It might be more important then.