
A monster 10 years for US stocks has showered money on the buy-and-hold faithful and made virtually every other asset class an also-ran.

A monster 10 years for US stocks has showered money on the buy-and-hold faithful and made virtually every other asset class an also-ran.
A Boston University economist says that people often don’t understand the complexity of the system and the pitfalls that await them.
By David Royer

Wall Street’s “fear gauge” passed a key level Tuesday with investors rattled by soaring bond yields. Stocks have plummeted with traders expecting interest rates to stay high well into 2024. That’s driven the VIX, which tracks S&P 500 volatility, to a four-month high.
By David Royer

The S&P 500 is priced for perfection and could plunge 25% if problems crop up, Mike Wilson says. Morgan Stanley’s stock chief says the outlook for company earnings and the economy is pretty grim. Investors have piled into Big Tech to ride out the storm, but they may still feel pain, Wilson says.

Global debt provides another negative for an already stretched equity multiple, JPMorgan says. Inflation ticked up again in August, putting more pressure on equities.
After big gains for the U.S. stock market this year, equity valuations could come under pressure from high interest rates, based on historical relationships, JPMorgan strategists said on Tuesday.
Dallas, TX
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