Highlights
- While most investors seem to be concerned about higher rates and what that will do to stocks, we have the opposite expectation.
- We continue to think that rates will move lower in the months ahead, and that should translate into a tailwind for stocks.
- In terms of magnitude of potential decline in rates, we are keying off the US Treasury Bond ETF (TLT) retracing perhaps as much as 2/3 of its decline from its COVID peak.
- This would translate to roughly 2.25%, which is lower than our. . .
