From a risk/reward perspective we now believe US stocks have bottomed and will rally into Christmas and potentially 2023 – this view is primarily based on how short/underweight traders and investors are positioned. Last week’s rally was the best since June by the US equities, even while bond yields posted fresh highs, suggesting to us the selling has simply exhausted itself leaving room for a pop on the upside.
- After the pullback since mid-August MM remains bullish on US stocks now believing they’ve probably bottomed for 2022.
MM remains bullish on US equities into Christmas
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