Blog: High Macro, but Low Market Uncertainty?
Positive near term sentiment is offset by less positive long term fundamentals.
The Market Uncertainty State Indicator (MUSI) remains at a Transition reading, which is similar to being neutral. While the markets continue to show positive risk sentiment, the underlying fundamental indicators are negative. I've been discussing the market sentiment indicators over the last month so I thought it might be a good time to review the macro fundamentals and why they're giving a difference of opinion. The reason is each is referring a different investment horizon. Sometimes point of view is important.
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