Thanks for the article, Dave. Yes, a most interesting week to be sure. It's an interesting environment we find ourselves in, isn't it. As I have written in my articles, cash is trash, and bonds aren't much better at the present time.
So, folks pile into equities, because there doesn't appear to be any other option. But then equities themselves begin to get stretched in valuation. It is potentially a recipe for a somewhat bumpy road ahead.
The enthusiasm for equities seems to be getting overdone. Stocks can't even pull back 3% without buyers rushing back in. Way too much support in equity flows. I'm not sure even a hawkish surprise from the Fed this week will make much difference.
Thanks for the article, Dave. Yes, a most interesting week to be sure. It's an interesting environment we find ourselves in, isn't it. As I have written in my articles, cash is trash, and bonds aren't much better at the present time.
So, folks pile into equities, because there doesn't appear to be any other option. But then equities themselves begin to get stretched in valuation. It is potentially a recipe for a somewhat bumpy road ahead.
The enthusiasm for equities seems to be getting overdone. Stocks can't even pull back 3% without buyers rushing back in. Way too much support in equity flows. I'm not sure even a hawkish surprise from the Fed this week will make much difference.