RiskReversal Pod
Stocks Staying Alive with Negativity & A Conversation with Jurrien Timmer of Fidelity
Oct 6, 2023
Jurrien Timmer, Director of Global Macro at Fidelity joins the show to talk about rising interest rates, gold/bitcoin, oil demand destruction, equities crash, strikes, consumer stocks, CFPB, Genius Sports, NFL picks, stock market in limbo, broadening market rally, yield curve, rate-sensitive sectors, the consumer, and U.S. dollar strength.
01:00:45
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Quick takeaways
- The combination of fiscal and monetary policy impulse during COVID has altered the market cycle, leading to a large gap between winning and losing stocks.
- The market is currently in a state of limbo with a few stocks driving the market's upward trajectory while many sectors struggle, similar to the situation in the early 1970s.
Deep dives
Market Cycle and Fed's Impact
The podcast discusses how the market cycle has been altered by the combination of fiscal and monetary policy impulse during COVID. The Fed's low interest rates have driven liquidity into certain stocks, creating a large gap between winners (technology and energy) and losers (utilities and real estate). This market dynamic is challenging to analyze, and it remains to be seen how long it will last before something breaks or the Fed takes a more dovish stance.
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