Fed 25bp cut is start of an easing cycle = positive. OW MAG7, Crypto and small-caps/financials

Video: The Fed made a dovish cut of 25bp on Wed and this is supportive of stocks over the next 12 months, as a cutting cycle is starting.  We do not see a bubble yet, as $NVDA continues to only trade at 26X forward P/E.

Please click here to view our Macro Minute (duration: 5:14).

The Fed made a dovish cut Wed of 25bp, dovish because to us, this is the start of an easing cycle rather than "one and done." There are many w...

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