Stocks have been on a run. The S&P 500 is up 14% from its June low; the NASDAQ 100 is up about 20%.
Yet sentiment is dismal. Google searches for ‘recession’ are through the roof. The yield curve is more inverted than it’s been for 20 years, even after improving a bit today. And Fed officials keep reinforcing their message that they are nowhere close to finished hiking, stock market rallies be damned.
So what’s going on?
Click the following link to read my thoughts about The Fed v The Market (I’m betting on the Fed)