yes, it was my take the writer is bullish on equities short term...also that bonds are overvalued...
my conclusion is that as money exits the bond market, it will continue to find it's way into equities....and he also expects "growth" indicators to tick up in third quarter...that will further roil the bond market as the perception will be that rate cutting is over (duh!) and rates could even rise....therefore a correction scenario in the bond market come this fall...fundamentally he thinks the uptick in gdp growth isn't sustainable so after correction, it will be a good time to enter the bond market...
so yes, very bullish short term for equities and any dips should be bought
my personal opinion is there is a disconnect from the fundamentals of the economy and stock prices, but the bond market is overvalued, cash is clueless, so the only "game in town" is still equities..
this market has nothing to do with valuations or fundamentals, money is chasing performance, and right now, equities is still it.
of course when it stops (performing) it stops <gg>
lather, rinse, repeat. |
