Why in gods name would the Fed cut near the all time highs. Its clear that this 10 year one-way street is coming to an end.
Can you explain what you mean by 10 year one-way street? Do you mean lower and lower interest rates?
I mean the stock market. CTAs are coming back my friend and its party time. No seriously, the tax cuts came in at the wrong time. Greed gets us at the best of times.
The only grace is the tightening jobs market and wage inflation but that is way off and wont save the day. The 3 year super spike in equities is done. I think its currently a range play until we see earnings in July. I think October we will see it tumble.
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