The mid-cycle transition de-rating is advanced but unfinished. Falling earnings revision breadth this fall will likely complete that process. We like a barbell of defensives (h/c and staples) and rate plays (financials) as Fed moves toward tapering. Weak breadth reflects De-rating under the surface. Our mid cycle transition continues with weak breadth, quality stocks doing better and an overall de-rating…
Morgan Stanley Downgrades Energy To Underweight: Mid-cycle Transition Continues
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Merrill Lynch: Excessive Consumer Demand
Seth Golden, , Research Reports, 0
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Fundstrat Addressing the Incoming Data Ahead of Fed Day
Seth Golden, , Research Reports, 0
9 key macro events this week, but Treasury refunding most important arguably. Incoming data likely soft-ish which should help...
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Analysts Commentary From Around Financial Markets
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Burgeoning ‘green shoots’ bring hope for an economic recovery The last time I used the term “green shoots” was...
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Merrill Lynch: Through Year-End
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A Major Breakout Has Occurred in S&P 500
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Another record closing week for the major indices, with all 3 achieving new all-time highs. Additionally, the S&P 500...
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Starbucks Q1 2018 Earnings Preview
Seth Golden, , Research Reports, 4
Starbucks is set to report its Q1 2018 results after the closing bell on January 25, 2018 and to...
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J.P. Morgan: Risk assets pull back on rates surge and crypto crash appears overdone, not the end of the cycle
Seth Golden, , Research Reports, 0
Cross-Asset Strategy: Friday’s strong CPI print that led to a surge in yields, along with the sell-off in crypto...
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Elections, Seasonality & Perspective-Based Positioning
Seth Golden, , Research Reports, 1
Equity markets started the trading week with a strong Monday performance, but from there it became a roller coaster...
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