Despite recent turbulence in the equity markets, Alpine Macro remains optimistic, urging investors to stay bullish as the Federal Reserve has ample tools to stabilize the economy.
Alpine Macro acknowledges that recent market corrections were triggered by a combination of factors, including the unwinding of the yen carry trade, weak but positive July nonfarm payrolls, and disappointing profit guidance from Amazon (NASDAQ: They note that aggressive easing by the Fed could lead to"irrational exuberance in Big Tech" as investors fear missing out on further gains.
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