Highlights
- There have been many reasons to be bearish equities since the banking crisis in early 2023, most prominent of which has been the certainty of a looming recession.
- This, among many other bearish datapoints, has not been enough to derail our bullish view, as our Risk Gauge repeatedly came down on the side of the bulls.
- This may finally be changing. If so, that would not mean that we should immediately adopt a bearish view, but rather. . .
