RBC is expecting a pullback in US equities, citing:
- in the geopolitical landscape deterioration
- hard landing concerns returning
- recent employment data
Its difficult to disagree with the first. On the second, has that ever gone away? It seems to have been around for at least 18 months. As for jobs data, let’s see what the NFP brings!
Oh, adding in another before we get to Powell:
“disappointing” earnings from big technology companies were
As for Powell hosing away March rate cut expectations, RBC says this ” felt like Powell was the last straw”.
Anyway, checking in, the pullback didn’t come on Thursday:
This article was written by Eamonn Sheridan at www.forexlive.com. Source