Tanking Inflation Drives Markets Higher
Jul 14, 2023
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“From one thing, know ten thousand things.” ~Miyamoto Musashi
Good evening:
With this week’s rally, the S&P 500 has completed 77% of the retracement of its entire bear-market decline from 4,819 (January 4, 2022) to 3,491 (October 13, 2022). It also recorded its highest close since April 2022.
This was no surprise to Fundstrat Head of Research Tom Lee.
On Sunday evening, Lee made a rare tactical call on the S&P 500, predicting that the index could rise 100 points or more this week. Much of that call was based on his expectation for the June Core CPI coming in so...