In today’s briefing:
- Relax, It’s Just A Mid-Cycle Expansion
Relax, It’s Just A Mid-Cycle Expansion
- The U.S. economy is undergoing a mid-cycle expansion, which is characterized by a combination of fundamental and technical momentum.
- As long as the economy stays resilient, earnings estimates rise and inflation doesn’t accelerate, stock prices can advance without rate cuts.
- The key tail-risk to the benign scenario is a disorderly Asian competitive currency devaluation that sinks emerging markets and sparks a risk-off response.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
