The Market Is Behaving Much Like It Did in the Past

Tim Duy:

The Market Is Behaving Much Like It Did in the Past: The prevailing wisdom these days is that markets are behaving in inexplicable ways.

I have a different view. If the market means U.S. equities, the behavior since the Federal Reserve began this tightening cycle has been very consistent with the behavior of past cycles. It's not sure all that complicated -- it’s about consistent economic growth -- and I am pretty sure fighting it is a losing bet. ...Continued at Bloomberg Prophets...