The markets have mostly been in a downtrend since midway through the summer, with a pensive mood driving the narrative. Concerns include higher oil prices, the prospect of interest rates remaining elevated for the time being, while worries about a recession are yet to abate.
However, a new note from Bank of America’s head of US equity & quantitative strategy, Savita Subramanian, sets out the bullish case for the final quarter of 2023.
“I see far more bullish indicators for mid and large-cap stocks than I do bearish,” Subramanian noted. “What I find interesting is that every day a new bearish narrative emerges.”
Those ‘bullish indicators’ include the opportunities remaining for those yet to reap the benefits of AI, a ‘renaissance’ for US manufacturing, and the fact that everyone is now getting bearish, which is usually a good sign that the markets are about to take off.
In fact, Subramanian thinks a recession has already been averted, and she recently raised her…
2023-09-27 10:17:39
Source from finance.yahoo.com