MacroVoices #352 David Rosenberg: This Bear Market Has A Long Way To Go
Macro Voices
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Are You Fighting the Fed?
It's a matter of really of when, and it might not be until we're well into the second half of next year because this Fed doesn't look like it's set to turn anytime soon. You need the yield curve to shift out of inversion towards a positive slope in the context of a Fed easing cycle. We could be down at least another 20 or 30% from where we are today before we get to those lows. And that probably will not happen given the Fed's posturing until we're deep into the secondhalf of next year.
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