Is It Russell’s Time?
Wow! Humungo move on the decent inflation report. A much higher probability of a soft landing is now being priced during the most wonderful time of the year for stocks.
The Russell was up a stunning 5.4 percent on the day, though only the 27th most significant one-day move since 2000, and look at that multi-year underperformance. We suspect any new discretionary money being put to work into year-end will have the name Russell. Small sector swamped by a burst of buying pushes the Russell north, in our opinion. And it is just that, folks: an opinion.
Source: https://global-macro-monitor.com/2023/11/14/is-it-russells-time/
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