Morgan Stanley Wealth Management comments on the dizzying highs of US stocks:
- the rise in US stocks appears detached from the Federal Reserve’s monetary policy
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“The uninterrupted 28% rise since last Halloween to historic highs is now disconnected from real rates and the Fed’s policy expectations”
- “Better-than-expected economic growth favors the cyclical rather than secular producers who dominate the Magnificent 7 as nominal GDP growth remains above 5%. »
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Do you think it’s disconnected now? Wait until there is no rate cut in June and inventories are even higher.
This article was written by Eamonn Sheridan at www.forexlive.com.
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