MBCC TH 26th Mar'24 - "Market is not about what is priced in, but what is YET to be priced in - what is the set up for q2?"

Every sell side was bearish in 2023, recession did not happen.

Today everyone is in the no landing camp, GDP at 2.5% and inflation magically at < 3%.

talk of more cuts when we have just gone through another $1 trillion in 90 days!

Ask yourself..would the economy need so much $$$ if it was really healthy?

Well Fed cant have both…this growth is rolling over, yet they need to cut to give it more..what does that mean?