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Over the past six months, the stock market has gone from unconscious to imperturbable.
To state what should be obvious: markets that ignore the bad news and turn the stubborn caution of investors into a better start to the year over 21 years, like this one, are solid and should benefit from the doubt up to a systematic tightening occurs. something more than that.
After all, the S & P is simply at its lowest level reached about 15 months ago in the furious and dizzying rally that followed the big corporate tax cut in 2017. reportedly formed a kind of basis, as was the case in 2015-2016.
Credit conditions are stable, Treasury bill yields have reached their lowest level, which is consistent with maintaining good equity support.
The stock market does not like better than a more accommodating federal reserve than the national economic conditions seem to be, which we seem to have, given the continuing strength of the US labor market and the marked slowdown in the US economy. GDP in the first quarter growth could prove quite modest.
But given the most reliable data, how much more productivity can be expected, does the White House demand a half-percent rate cut?
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