The MacroTourist

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WHY THE RALLY?

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WHY THE RALLY?

The 'tourist uses his simple P/E pricing model to explain recent action

Kevin Muir
Jan 26
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WHY THE RALLY?

posts.themacrotourist.com

Stocks often climb a wall of worry, but January’s rally has felt more like free soloing El Capitan. It’s easy to forget, but late last year, almost no one believed the Fed could engineer a soft landing. A recession seemed like a foregone conclusion. Many market participants were busy debating how much of an earnings decline was priced in, with the conse…

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