Those include liquidity, corporate profits, and investor sentiment and valuationwhich are the most important factors when determining overall the momentum of the market, the firm added.
"While it is certainly possible for this rally to evolve into a full-fledged bull market, historical precedent suggests it is far from a foregone conclusion," RBA's deputy chief investment officer Dan Suzuki said in aThe latest rally in stocks comes at a precarious time for the US economy, with investors eyeing a potential recession on the horizon. Higher rates have hit firms with more expensive borrowing costs, lowering liquidity and putting pressure on corporate earnings.
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