Surveillance: Ban the Phillips Curve, Says Sahm
Bloomberg Surveillance
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The Stock Market Is Under Pressure
The high valuation areas of the stock market are under significant pressure and that doesn't change overnight. I don't think this is going to be a time where we see tech rebound dramatically because rates are so much higher. In any recession, valuations have dropped to 15 before the bear market ended and turned around. We're likely to see a movement towards lower valuation names, more cyclicals.
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