I think fundamentals have changed with respect to US banks. The risk of failure of a large US bank is probably off of the table now. This type of catastrophic event was probably one of the fears that plumbed those March lows.
Surveys that poll levels of confidence have certainly looked better lately which helps to drive markets. When you consider what has occurred it is hard to imagine a scenario where the March lows get tested now. I'll call that a bottom. I expect some type of correction in the near term but I think we'll be higher by year end than we are now.
Surveys that poll levels of confidence have certainly looked better lately which helps to drive markets. When you consider what has occurred it is hard to imagine a scenario where the March lows get tested now. I'll call that a bottom. I expect some type of correction in the near term but I think we'll be higher by year end than we are now.