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Jamie Dimon: “This is Serious”
The CEO of the US’ largest bank by assets – Jamie Dimon – has sent another warning. ‘This is serious’ he said… warning of perhaps up to 20% further downside and a recession in 2023…
Fed Gets another ‘Green Light’
September’s strong jobs report gave the Fed more scope to continue with their aggressive rate hikes. Unfortunate a Fed “green light” is a stock “red light”
Tread Carefully…
The two biggest headwinds facing stocks are higher rates (bond yields) and the US dollar index. Both are yet to peak or show signs of a downward trend. And until they do – we can’t call a bottom in equities.
The Most Important Thing We’re Yet to See
Stocks are rallying as bond yields and the dollar index are pulling back. But I would temper any enthusiasm – this remains a very bearish market. Why earnings expectations need to come down.