Sell The News?
6 months ago
11
- Waller very vague, talking about a tautology in the future, very much anticipated by markets
- Multiples remain at post-dot-com highs, outside covid, outside GFC, lowest earnings yield as well, virtually all time lows, and lower than risk-free yields
- Cutting rates will only make most sense if economy slows, as Waller says is happening, and that is unlikely to jive with earnings expectations, which Waller expects to come down
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