I think on Thursday markets were pricing in the increased chance of a soft landing, though I think the Fed will put us into a recession anyway. Demand destruction will be the next headwind for companies, and that’s really what the CPI is starting to show. I’m not a bear but I think the markets might be a little to optimistic on a soft landing. In the long run stocks are still cheap and that will provide tailwinds.
I think on Thursday markets were pricing in the increased chance of a soft landing, though I think the Fed will put us into a recession anyway. Demand destruction will be the next headwind for companies, and that’s really what the CPI is starting to show. I’m not a bear but I think the markets might be a little to optimistic on a soft landing. In the long run stocks are still cheap and that will provide tailwinds.
Terrific and organized data on where we stand right now. Thanks Joseph.