Excerpt from CNBC quoting DataTrek co-founder Nick Colas:
…. “But things could get worse if Wall Street keeps pricing in a more aggressive central bank.
“We continue to believe that U.S./global equities will not bottom until markets stop discounting ever more aggressive Fed rate policy,” wrote DataTrek co-founder Nicholas Colas. “We believe the chances of fresh 2022 lows for U.S./global stocks are very high. It’s not that the current news flow is bad. The problem is that the range of potential economic outcomes is too wide to predict future corporate earnings with any certainty”….
Full article here on CNBC.