Surveillance: Subramanian Lifts S&P 500 Target
Bloomberg Surveillance
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The Glass Half Empty and the Glass Half Full View of the Market
Have we worked through the stimulus, the $10 trillion stimulus during COVID? How far are we down in that? So if you look in terms of the excess savings on the part of consumers, you're really only about halfway through. If we could have had that banking problems of the last several months in an environment where stimulus is still working through, maybe that's not so good. This is the tale of two narratives, whatever you want to justify the data with. We think this is an alpha extraction time and defensive sectors have worked and then they've not worked.
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