Uddrag fra Morgan Stanley:
| We really had every opportunity to fall apart in February… |
| …yet here we are back above 4K again. For reference, since February 1: 1. Many prominent macro strategists (and macro investors) have publicly called for a dramatic move lower in SPX 2. Markets have added +75bps in rate hike expectations 3. The odds of a +50bp rate hike in March have risen to ~30% 4. CPI, PPI and PCE inflation all printed above expectations, with PCE inflation up for the first time since fall 2022 5. A +500K Jobs print shocked forecasters 6. The unemployment rate is at its lowest level in some 50 years 7. The 10yr ran through the psychological 4% level 8. The 200D was tested / re-tested multiple times Climbing the wall of worry. Bullish (Ashton Curtis, Morgan Stanley) |
