Macro Backdrop: High Conviction Rally Approaching?

By |2015-11-22T13:04:28-05:00November 22nd, 2015|Economy, Federal Reserve/Monetary Policy, Markets, Stocks|

As depicted by Macro Research Board, the current cycle has been "abnormal." The depth of the downturn in 2008 led to deleveraging and risk aversion in the financial and household sectors. This, coupled with the sheer weight of aggregate debt, has caused "a prolonged risk on/off environment."  This has "undermined investor confidence," and "slowed the transition between the policy-induced rally and growth-driven upleg" [...]