Wk41 MacroTechnicals - Are We There Yet?

Why stocks staying resilient will prolong the pressure, not resolve it

Wk41 MacroTechnicals - Are We There Yet?

Last week, I outlined why our macro framework points to a difficult backdrop for stocks to rise alongside rising bond yields and why I retain a bearish leaning. Today, I extend on that in more detail, specifically outlining why this cycle is uniquely more resilient than the typical one, how that shapes the timing of regime shifts and our interim views, and what to look out for.