“Current stock market rally ‘likely to mark the high point’ for 2023: JPMorgan”
February 13, 2023
“…The strong rally across the major indices so far this year has surprised many market watchers, especially given that the Federal Reserve is hot off another interest rate hike as it continues to try and combat nagging inflation.
Several Fed members, including Atlanta Fed President Raphael Bostic to Minneapolis Fed President Neel Kashkari, have come out since the last Fed meeting with warnings rates may have to head higher than investors currently expect…
JP Morgan’s Matejka ultimately thinks the market needs a reality check.
“The market appears to be betting that the new cycle has started, but there was no reset in the key variables, profits, labour market, capex and other,” the strategist wrote…”