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The S&P 500 could hit 10,000 by the mid-2030s
The housing market faces demographic headwind, with population slowing dramatically for several reasons; which has resulted in diminished demand for housing.
The food fight between the President and the Fed Chair could result in too much easing, and the expansion of valuations beyond sustainable levels. The other food fight: leveraged loan issuers vs buyers. Issuers are winning this fight hands down due.
Investors were disappointedInvestors were disappointed that trade tensions re-escalated and the Fed viewed their actions as a “mid-cycle adjustment".
Michael looks at the midterms: GOP gains in the Senate, an historic loss in the House given economic and market conditions, and what it means for investors.
Investors are concerned about the deterioration of corporate debt quality, marked by lower credit ratings and a large share of covenant-lite issuance in the loan market.
Michael discusses how short covering, rather than real money, has driven the fastest recovery on record following a bear market, and looks ahead at slowing earnings growth.