WHERE STIFEL’S BANNISTER BEGS TO DIFFER
Looking at a bullish market, Barry Bannister, chief equity strategist over at Stifel, was out with a note on Thursday summarizing where he disagrees with the crowd.
For starters he notes that consensus is expecting “a perfect Fed ‘soft landing’ and a major easing cycle.” But in contrast, he sees Core Real GDP slowing sharply, and perhaps so much so that the Fed may already be “too late.”
Consensus also sees inflation as “mostly tariffs and is only transitory, fading in 2026.” but his forecast is that “inflation will not slow to a low-2’s% rate through 2026 without a recession.”
And he declares that while consensus sees “a ‘New Economy/New Era’ with Big Tech not that cyclical becaapply of AI” but he argues that “while Big Tech has huge economic profits, it is still cyclical and quite expensive.”
(Sinéad Carew)
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EARLIER ON LIVE MARKETS:
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POT AND SOLAR: THE ETFS SMOKING THE S&P 500 THIS QUARTER CLICK HERE
ALL IN THE TIMING: UPBEAT CLAIMS, PHILLY FED NUMBERS FOLLOW 2025’s FIRST RATE CUT CLICK HERE
NASDAQ LEADING WALL STREET WITH HELP FROM CHIP HEAVYWEIGHTS CLICK HERE
NVIDIA SET TO GIVE INTEL ITS BIGGEST LIFT IN DECADES CLICK HERE
IN FREE FALL: TARIFFS DENT SWISS WATCH EXPORTS CLICK HERE
EUROPE BUOYED BY FED RATE CUT CLICK HERE
EUROPE BEFORE THE BELL: FUTURES HIGHER AFTER FED RATE CUT CLICK HERE
THERE ARE FED WEEKS WHERE DECADES HAPPEN CLICK HERE
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