by David Picton, President and CEO, & Team, Picton Mahoney Asset Management
Will An Asset Bubble and/or Inflation Follow?
Markets shrugged off a seemingly dire correction in early August and rallied back to all-time highs. Despite weakness in the labour market and manufacturing, overall economic data continues to underpin the soft-landing narrative. A potential ‘Goldilocks’ outcome has been bolstered with actions taken by the U.S. Federal Reserve and People’s Bank of China. The problem for investors, however, is that a soft landing is fully priced in, while equities remain expensive. As it stands, we believe buying pullbacks remains the best course of action.
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