Morgan Stanley's Mike Wilson Says Profit Recession Still Underway, Reiterates 3,900 Year-End Target For S&P 500
Portfolio Pulse from Bhavik Nair
Morgan Stanley's top equity strategist Mike Wilson reiterates his year-end target of 3,900 on the S&P 500 Index and warns that a profit recession is still underway. He believes that inflation will come down, affecting stocks and earnings power. Wilson is overweight cash and underweight stocks, with a preference for energy and financials sectors.
June 15, 2023 | 9:27 am
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The iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY) shed 0.06% on Wednesday, as bond traders raise bets on the probability of the Fed tipping the U.S. economy into a recession.
The article mentions that bond traders are raising their bets on the probability of the Fed tipping the U.S. economy into a recession, which could negatively impact the iShares 1-3 Year Treasury Bond ETF (SHY). As a result, the ETF's price may face downward pressure in the short term.
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