Our outlook for the full year remains clearly bullish, more in line with the best cast scenario of our Annual Forecast in the January 2021 issue. S&P 500 is already up about 17% so far this year at the end of July. Our updated outlook is for S&P 500 to finish the year in the 4500-4600 range or even higher, but we do anticipate the rally to pause over the next 2-3 months during the worst two ...
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The rotation back into tech and growth stocks has picked up momentum on the prospects that recent rampant inflation fears are a bit overblown. The retreat in Treasury bond yields and the more tranquil bond market suggests the spike in prices is more transitory than the extremes some market observers and investors have been suggesting. In turn, NASDAQ’s midyear rally appears to be running ahead of schedule.
We remain in the transitory inflation camp. Sure it will likely ...
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