Clock Is Ticking Louder on a Stock Rally the Pros Never Believed In
S&P 500 posts worst week of 2023 as traders focus on rate risk
The buying binge that has propelled US equities almost without interruption for four months is nearing a point where past rebounds caved in.
Tom Hainlin “We would not have a lot of confidence that this rally that we’ve seen in early 2023 is sustainable until we see the impact of rate hikes on the real economy.”
“The dip-buying mentality is driven by the idea that as economic growth slows, the Fed will be forced to reverse its policy approach,” said Lauren Goodwin, economist and portfolio strategist at New York Life Investments. “The buy-the-dip story is one that I actually don’t expect to prevail or to be successful when interest rates are still in restrictive territory.”
Bloomberg 10 februari 2023
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