Major US indexes witnessed a decline this week despite domestic data showing a firming-up of the economy as US markets are in the middle of a technical correction, said Mohamed El-Erian, chief economic advisor at Allianz and the former CEO at PIMCO. Also, stock fundamentals are fairly weak compared to prices. Risky assets are likely to come under pressure, and …
One Man’s Opinion: Do US Stock Prices Look Stretched Now?
The rise in geopolitical tensions in recent weeks that triggered a stock market slump in the US validated Ameriprise Financial’s Chief Market Strategist David Joy’s call in June for offloading equities. While equities are likely to be punished further as markets are probably halfway through the latest move, there is an opportunity for a relief rally if the news in …
One Man’s Opinion: Will US Growth Will Pick Up Next Year?
The economic recovery will not be as good as it has been historically after recessions, but the economy will do better than what it has done recently, said Maury Harris, managing director and chief US economist at UBS. There have been a number of problems that have been holding back growth and probably won’t be as harmful next year. From …
One Man’s Opinion: Why Has The US Economic Recovery Been So Choppy?
The latest inflation number has been quite low at an annual pace of 1.2 percent, but it’s a lagging indicator and will probably keep the Fed on hold for longer, meaning bond proxies and income orientation that has worked well thus far will continue to do so in future, said David Rosenberg, chief economist and strategist at Gluskin Sheff & …