‘Serious Problems’
Simply put: The economic, market, and societal cross currents are strong right now.
Simply put: The economic, market, and societal cross currents are strong right now.
Market participants are exhausted with COVID-19.
Cue The Shirelles.
“Everyone’s really, really excited”.
Remember: This is a headline-driven market.
“I don’t know where that got started on Wall Street”.
Positioning and low risk of new lockdowns justify a reasonably constructive take.
“…even though we are not halfway through the year yet”.
“Not everything has to be a paradigm shift”.
“It’s more likely retail traders caught in microbubbles getting stopped out”.
If you’re wondering where that falls on the “swan” scale…
At a basic, common sense level, it really is silly.
Famous last words?
“Are they taking us towards US collapse or renaissance?”
“…the path of the S&P 500 through year-end is not likely to be smooth”.
“At what point does the stark disconnect between Wall Street and Main Street become a political embarrassment”?
“Investors”, he writes, are “still extremely bearish”.
Of course, all the usual disclaimers apply.
“The stuff that can grow”.
“If the US further blocks key technology supply to Huawei, China will activate the ‘unreliable entity list.”
“If you don’t [think] the Fed is buying stock ETFs on the next market shock, you are wrong.”
“…potential negative surprises.”
Don’t go ’round tonight…
“…the hows and whys and ifs of what was once a crackpot leftfield are now out there actually being discussed.”
Are stocks ahead of themselves? Here’s what history suggests.
I suppose that’s just as good a summary as any.
Let’s face it..
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