Closing Bell Closing Bell: Bitcoin Hits All-Time Highs 5/21/25
May 21, 2025
In this discussion, Kate Moore, Citi Wealth CIO, provides insights on economic conditions, examining the impact of rising Treasury yields on market dynamics. Kevin Gordon, Charles Robb Senior Investment Strategist, explores consumer sentiment, highlighting its resilience amidst sluggish growth. Jeff DeGraff, a top technician, shares crucial insights into the market's recent volatility, focusing on how fluctuating yields influence stock performance. Together, they navigate the complex interplay of market trends, investment strategies, and the implications for future financial landscapes.
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Narrow Earnings Drive Market Gains
- The equity market's recent rise lacks strong fundamental and macroeconomic support.
- Earnings strength is narrow, concentrated mainly in tech and communications sectors.
Tariff Pain Yet to Hit Markets
- The full impact of tariffs on U.S. corporate margins is yet to be felt.
- Investors are cautious, favoring high free cash flow, high-quality companies amid tariff uncertainty.
Fixed Income's Changing Role
- Long duration fixed income may no longer offer usual portfolio ballast amid fiscal and international investor concerns.
- Portfolio managers reconsider how to hedge economic risks and air pockets effectively.