The S&P 500 at another high; it’s not in a bubble yet
Many expect a bubble, which could be a self-fulfilling prophecy; rate cuts would be a crucial catalyst
About those rate cuts: There’s a growing chance they won’t happen.
With Dalio and now Mackintosh concluding, “It’s not a bubble YET,” we could soon see a rush of cash into the market. Nothing creates a bubble like the crowd’s simultaneous and collective belief that a bubble is still yet to come.
Many standard measures suggest the market is not as overblown now as three years ago, let alone at the top of the dot-com bubble in 2000.
But what if the Fed doesn’t cut at all? Torsten Slok, chief economist at the Apollo Group in New York, had the nerve to put his head over the parapet and predict that they won’t.
Double, Bubble, Toil and Trouble… Shakespeare
https://www.youtube.com/watch?v=e4-n0C8gmVM
John Authers Bloomberg 4 March 2024
A Frothy Market Misses Vital Bubble Ingredients
James Mackintosh 2 March 2024
https://www.wsj.com/finance/stocks/a-frothy-market-misses-vital-bubble-ingredients-510efbaf
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