US10Yr Over 100x P/E, SPX 16x Pricy?; Sanity Check Please

There’s a great deal of consternation that the stock market reacted poorly to the “surprise” Federal Reserve 50 basis points interest rate cut last Tuesday. The cut was said to be ineffective. Well, there are few things wrong with that headline.

First, it wasn’t a surprise to veteran investors or folks who read this newsletter. We pointed out as much the previous Friday. Secondly, because markets are a discounting machine it was the nearly 5% equity rise on Monday which was the “...

Finish reading this report for free

Enter your email and we’ll send the paywall-free link directly to your inbox

In addition to your unlocked report, you will receive our weekly market newsletter FSI Snapshot, as well as occasional updates and offers from FS Insight. You can unsubscribe at any time. For more information, see our privacy policy.

Get unlimited access to Tom Lee’s Fundstrat research Subscribe
Already a member? Log in

More from the author

Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You are reading the last free article for this month.

By continuing, you agree to the Terms of Service and Privacy Policy.

Already have an account? Sign In

Trending tickers in our research

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You are reading the last free article for this month.

By continuing, you agree to the Terms of Service and Privacy Policy.

Already have an account? Sign In