In this episode, Satya Pradhuman walks through Cirrus' outlook on equities for the year.

Adages such as “Buy on the rumor, sell the news” or “Be nimble or be humbled” come to mind as fundamental elements stack up for an ongoing run-up of risk-taking. That said, key measures on the inflation front, tactical crowding extremes and the global capital flows point to a need to de-risk as we get to the Fall and the Fed’s decision will hang in the balance.

in this episode, Satya Pradhuman outlines the firm’s framing of the current market environment in our latest Market Elevation Podcast.

We continue to hold a favorable outlook on equities as we barrel into 2025. Rebounding earnings and the recent change to a risk-on run are likely to remain as fundamentals have been strong and likely to continue. In this episode, we make the case that fundamentals remain sound, but tactical elements are starting to heat up.

In this episode, Satya Pradhuman outlines the firm’s framing of the current market environment in our latest Market Elevation Podcast.

Leadership will continue to be stress-tested as a more cyclical market leadership profile settles and the grumblings over NVIDIA’s (NVDA) deceleration in growth become louder. By the first quarter of next year, the Fed will have likely made additional moves in easing. Focusing on a strong close of the year and out towards 2025, we continue to highlight the risk of a more cyclical run, that credit markets are strong, and profits are on the rebound. Counter to the consensus view of a recession given the Fed’s recent rate cut, we believe that the concern may be more lodged on the side of inflation concerns reheating, effectively a bearish steepener.