
TINA's Dead and Bonds Are Back
What Goes Up
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Is There a Pivot in the Market?
There's no pivot in sight for now. The best we can get early next year is perhaps a pause to me. A pivot means that the Fed is going to turn around and cut rates. We're not expecting that. And therefore, those value names looking at a VLUE or an IV really makes a lot of sense in a portfolio. But I don't think that's going to be a lasting rally because I think that earnings growth will probably get revised lower.
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