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Why Are We Bullish? Better Margins, Earnings Recovery, and an Accommodative Fed
We are the most constructive we have been in two years. Why? In the past two years, investors dealt with rampant inflation, rapid fed rate hikes, negative real rates, corporations tightening their balance sheets dealing with wage increases, a pending recession, and an EPS recession. That’s now changed. So far in 2024, we are experiencing stronger economic growth, positive real rates, potential rate cuts, lower rates to help ease funding pressure and potential changes in market leadership. We have a good setup for stocks with an anticipated soft landing, accelerated growth, and sticking inflation.
John Davi is the CEO & CIO of Astoria Portfolio Advisor. He has over 25 years of experience spanning across macro ETF strategy, quantitative research, and portfolio construction. Before starting Astoria, Mr. Davi was the head of Morgan Stanley's Institutional ETF Content and advised many of the world's largest hedge funds and asset managers on ETF portfolio construction. He published hundreds of reports in his research career across a variety of topics from ETFs, indices, futures, and structured products.
