The turnaround in global stocks since 24th December has been nothing short of spectacular. We would argue that ‘fear of missing out’ (FOMO) has returned and the reasons most often given are;
A) a more accommodative (dovish) Fed
B) a potential trade deal between the US and China
These two bullish points are wheeled out on an almost hourly basis and whilst both might ultimately be true, they are surely largely priced into the market already.
So, whilst the grounds for potential optimism are carrying the day, what are the potential counter points?
Find out below, where we also discuss the reduced global earnings estimates for the coming year, the fairly awful manufacturing PMIs out for February and the return to the (relative) mega returns of the technology sector.
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