Friday Workout — Everything rally; Distressed Equity Options; Medical Exam
- Chris Haffenden
The everything rally continues, as the market participants lay odds of recession, now a rank outsider, with bad economic news once again good news for risk assets. Even big tech laying off workers is positive (not sure how this affects their investing for growth valuation thesis) and, despite disappointing again, Tesla’s EV forecasts are still taken at face value by the Musk-eteers.
This graphic from JPMorgan shows just how far perceptions have changed. Not sure if the Jan 2023 bar in gold is meant to represent the present Goldilocks scenario.