- Our bullish thesis for next year is based on 4 factors:
- The folks printing the money are telling us they will continue
- The credit markets remain wide open.
- The global economy is inflecting off a very weak level like the other two post mini-recession periods this cycle (2012 & 2016).
- The demographic tail wind of the millennials should keep the economy flowing as long as credit holds up.Market holding up pretty well given Amazon EPS miss.
2. Did you realize the Philadelphia Stock Exchange Semiconductor Index (SOX) is up 41% this year
3. The U.S. Treasury Bond yields keep ticking higher reinforcing our offense field position.
4. For the first time in a while, the German IFO Business Climate Index ticked higher reinforcing our view the global economy is bad, but getting “less worse”.
5. I have been all over the norther hemisphere over the last month, and every time I finish a presentation, the client or audience are surprised someone can have a positive view given the news backdrop.
6. Next week should be fun with all the EPS and the Fed meeting. Get some rest this weekend.
Again, thanks so much for your interest in DwyerStrategy and have a great weekend.
Past performance is not a guarantee of future results. Index returns are unmanaged and do not reflect the deduction of any fees or expenses. All data points are sourced from Bloomberg as of 10/25/19 unless noted otherwise.
Sign up for more access!
Access additional content across the site when you sign up for an account.