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"We remain cautious on risky assets and the broader macro-outlook due to the interest rate shock that should negatively impact economic activity."
"This cycle is decidedly different than any we have experienced for the last several decades, due to the overhang of high inflation."
The surge in tech stocks was noticeable on Monday, with shares of Nvidia, Meta Platforms, Alphabet, and Amazon all surging about 3%.
(Bloomberg) -- Federal Reserve Chair Jerome Powell’s pivot toward interest-rate cuts is spreading holiday cheer in the White House, where the improved prospects for an economic soft landing are a boon for President Joe Biden’s bid for another term. Most Read from BloombergUS Frackers Return to Haunt OPEC’s Pricing StrategyNetanyahu, Under Pressure Over Hostage Deaths, Vows to Press On‘Underwater’ Car Loans Signal US Consumers Slammed by High RatesUS Navy Shoots Down 14-Drone Wave as Shippers Avo
Jeremy Grantham said the multi-asset bubble would likely burst and bring down the US economy, and lamented income inequality and unaffordable housing.