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Fundstrat’s Tom Lee Sees Stock Market Rising on Wall of Worry, Says Inflation on Path To Glide Lower

April 10, 2024
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Inflation is falling quick sufficient for the U.S. Federal Reserve to chop charges this 12 months, which can profit the inventory market, in keeping with Tom Lee, the founder and head of analysis at Fundstrat World Advisors.

In a brand new CNBC interview, Lee says there are “many causes” to consider the present inventory market rally will proceed.

“A part of it’s that we do suppose that the inflation trajectory is on a glide path decrease than consensus expects. The second is that I feel there’s an excessive amount of warning on the market. You realize, while you have a look at prime brokerage borrowings, or principally leverage available in the market, it’s nonetheless under the place it was in October 2021.

There’s nonetheless $6 trillion in money on the sidelines, and in our conversations with shoppers, they’re nonetheless fairly cautious, so so long as buyers are top-calling and are actually trying on the world half-empty, I feel shares can nonetheless rise on this wall of fear.” 

Lee can be a vocal crypto bull. A few month in the past, the Fundstrat government predicted that Bitcoin (BTC) might surge previous $150,000 within the subsequent 12-18 months.

“We’ve obtained extra seen demand from the spot exchange-traded fund (ETF) and we all know the provision dynamic is bettering with the halving arising which is lower than a month away.

It does assist that the Federal Reserve is changing into dovish, that’s simpler financial coverage.

And I feel from a regulatory perspective we had so many hammers dropped within the final 12 months, actually 18 months, that except it’s going to be worse over the following two years, Bitcoin’s already confronted kind of the height of regulatory backlash.”

 

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