The US market was smacked overnight as investors started to lose confidence that the Fed can both stem inflation and avoid a recession, as we’ve said before it’s a tough balancing act and one which could go either way. In the bigger picture stocks are still relatively close to their previous all-time highs and more importantly we don’t believe a recession is built into current valuations – a worry medium term.
MM is neutral to bullish US equities over the coming weeks
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