Macro Quick Hit: Medium-Term Challenges to Equities But Near-Term Opportunity?
As economists, we can say the market appeared fully priced a week and a half ago by our macroeconomic metrics but we see no threat to the economy over the next two years. We are bearish on rates but expect the rise in yields to be gradual. We view the current decline in equities as a violent correction but not the beginning of a bear market. Challenges remain for the medium term to equities but the near-term risk-reward (over a six month horizon) may favor adding to equity exposure.
RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.
Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
The founders of RDQ Economics, John Ryding and Conrad DeQuadros, have a combined experience of 26 years on Wall Street, 12 years of experience in central banking at the Federal Reserve and the Bank of England and nine years in the independent research space. John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.
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