Earnings estimates are back near record levels again.
This wave of excitement seems quite excessive and completely unwarranted.
After reaching over 90% of yield curve inversions in the US Treasury market, the risk of a full-blown economic recession remains significant for… pic.twitter.com/jML58pdg6B— Otavio (Tavi) Costa (@TaviCosta) March 31, 2023
Citigroup analysts are already donwgrading earnings estimates, so they can beat them. pic.twitter.com/klarcaiTBu
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) March 31, 2023
Therefore, given that earnings are a function of economic activity, valuations are an assumption of future earnings. Therefore, asset prices must reprice lower for earnings risk, particularly during a banking crisis.t.co/8laUHco2GQ pic.twitter.com/1jnKk9OMDR
— Lance Roberts (@LanceRoberts) March 31, 2023
The FED is trying to trigger an economic recession.. bullish for tech 😂 pic.twitter.com/GLkBPYrlnY
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) March 31, 2023
“Microsoft, $MSFT, was paying $90 an hour for contractors during the height of job hiring in 2021, and now you’re routinely seeing $45 an hour for someone with PhD experience,” per Bloomberg.
— unusual_whales (@unusual_whales) March 31, 2023
The saving rate plunged to historic lows last year as Americans saved less to keep spending. Now, it's creeping back up — maybe a sign that households are exhausting excess savings, or are getting nervous about a recession? pic.twitter.com/uW2pg0Oj9M
— Ben Casselman (@bencasselman) March 31, 2023