Monday observation – this EPIC battle between monetary policy and fiscal stimulus vs. negative economic and EPS releases is raging exactly where one would expect – right where the Fed announced they would support risk assets on 04/09. Since that move, we believed a drop back to the March low is unlikely with the Fed backstop, while a breakout to early year highs is unlikely due to weaker economic activity and our favored credit metrics.
Again, what would get us back on offense?
Sign up to access the rest of this content!
This content is not available to free users. Sign up for a paid account to access the rest of this content.