Denial
The Credit Strategist Blog
Today, the Fed Funds rate stands at 5.08% and the S&P 500 closed at 4,136 with consensus earnings estimates of $224/share. On 2/24/22, the Fed Funds rate was 0.08% and the S&P 500 closed at a virtually identical 4,117 with consensus earnings estimates 10% higher at $244/share. Clearly stock market investors are basing their investment decisions on thi…
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