Oz Blog News Commentary

Stocks stuck in the mud

September 19, 2023 - 11:00 -- Admin

Marko Kolanovic at JPM remains bearish. Equities are up YTD on multiple expansion while real rates and cost of capital are moving deeper into restrictive territory. History suggests this relationship is becoming increasingly unsustainable, with the S&P 500 multiple over-valued by 3-4x vs. real rates, posing risk to valuations, especially since earnings expectations already face

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