Weekly Win Streak at Eight as Lee Remains Constructive Array ( [cookie] => 596a25-805399-724db3-06fc84-1cfaa6 [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 2 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 0 [subscriber] => 0 [role] => [visitor_id] => 208285 [user_id] => [reason] => [method] => ) 1 and can accesss

“The worst thing you can do is say to yourself, ‘I want to be just like somebody else.’ You have to absorb knowledge from someone else, but ultimately you have to find your own voice.” ~ Yo-Yo Ma

’Tis the season for holiday parties, and this week Fundstrat Head of Research Tom Lee related his anecdotal experience at the parties this season: “In my conversations, I’ve found that most institutional investors remain cautious,” he observed. “It seems that this is mainly because for many, the takeaway from the December FOMC meeting is that ‘the Fed sees something that we don’t, and that explains their dovish pivot.’”

Lee suggested that “those with a bearish take on December FOMC are retaining an anchoring bias” – this despite many data points showing that inflation has fallen “like a rock” this year. Friday gave us yet more evidence of this, with Nov. Core PCE Deflator released and coming in at +0.06% MoM. This was in line with the forecast of our Head of Data Science, “Tireless” Ken Xuan, and well below Street consensus expectations of +0.20%.