MBCC TH 17th April'23 - "As the market is busy digesting all the q1 earnings, remember q1 is not the issue, macro is still important!"

We all saw the JPM 0.00%↑ beat and stock surged 7%. The equity is not only about fundamentals but about positioning and sentiment as well. We expected -6.5% eps decline this quarter, lowest since w2’20, but is q1 really the issue here? We all know analysts low ball estimates and then companies beat the low balled numbers, and stock rallies, but is that anymore more than being caught off side?

We discuss the 2023 eps trend as well as what is happening in Bitcoin, Nasdaq and Rates/Bond markets..

Why did Bitcoin turn > $30000? Why are Bond yields rallying?