Based on the initial market action of 2023, it appears investors' New year's resolutions were something like this: Keep Big Tech in the penalty box, place some bets on foreign-stock outperformance, while feasting on bonds of all kinds to capture healthy yields and maintaining some hope that the elusive soft economic landing remains possible. No one needs the reminder that turn-of-the-year resolve often dissolves in the face of changing circumstances.
Citi's global strategists Friday downgraded US equities to underweight, saying European stocks, in particular, are priced more for a potential profit slide than are American shares. Such calls for an international comeback have been made many times in the past decade to little avail, though it could well be that the moment now is more ripe. That U.S.
The Market is desperately trying to fight the Fed. It can win skirmishes but it will lose the war. There will be NO pivot next month and we haven't seen the lows yet.
When the market is neurotic the best you can say is the market is neurotic. The Government's ability to paper over mistakes is waning. tt:lizpeek berthacoombs
“You know nothing, I mean nothing “😂