Eric Basmajian: Further Downside Ahead For Risk Asset's
Market Depth
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Fed Pivot Isn't Necessarily Bullish Risk Assets
If you're not in a recessionary window or the economy has a strong probability of achieving a soft landing, then Fed pivots can be more timely with recoveries and asset markets. But until we see a bottom and an upturn in the longer leading indicators, we're not even on the radar screen for a potential bottom in the stock market. So I think that the economy continues to decline. We go into recession in the beginning of next year and we actually, people say, well do you think maybe you could start buying risk assets? And I say, it's nowhere on the radarscreen yet because I haven't seen a bottoming at all in my longer leading indicators.
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