Aftershocks part 4: 1Q2023 EPS season will show whether economy or inflation broke. Fed running out of reasons to hike rates in 2023 given JOLTS/PCE/ISM/Dallas Survey.


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Based on my recent meetings, it is obvious institutional investors are waiting to see what broke with SVB/Fed hikes -- is it the economy or inflation? Naturally, one is generally bad (economy) and the other is generally good (inflation).

Investors believe "economy broke" post-SVB, not inflation: The vast majority of our clients are cautious (no need ...

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