“S&P: Respect the Breakdown”
S&P: Respect the Breakdown
Jim Welsh of Macro Tides talks with Blake Morrow to discuss the Fed’s rate hike path following the “Hot” CPI release. He believes rates will go higher, but stay higher until something in the economy breaks.
He is expecting employment to be the risk for the US economy, not inflation. Jim covers the S&P 500 and how he sees the market now after the breakdown. Also, he thinks the USD may be topping, but is still bullish near term. Jim admits being wrong on gold, but warns that sentiment and positioning are at extremes and could mean a bounce soon.
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