Beyond the strategists, there’s even more of a boost to sentiment when the most redoubtable bears capitulate. Nouriel Roubini, the economist famous for correctly predicting the GFC, has now turned positive and said in his appearance on Bloomberg Surveillance that the economy might enjoy a “no-landing” scenario. To quote Surveillance’s Lisa Abramowicz:
The fact that Roubini, who is known for his gloom, can’t find much negativity in the US economy sends a pretty strong message at a time when the S&P 500 is hitting record high after record high. It’s the reason we’ve already seen so many upgrades to strategists’ S&P targets for year-end, despite high valuations.
No comments:
Post a Comment