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Buying by Quant, Short, Pension Funds Dims Stock Market’s Economic Signal

  • Rally has yet to lift broad sentiment from depressed levels
  • Fundamental support is required to refute bear warnings
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Risk-Reward for Equities Is Very Attractive: JPMorgan’s Tsang

Tempting as it is to credit the stock market’s rollicking advance to expectations the economy will thrive despite war and inflation, other forces are at work in the rally.

How much they are responsible for is a serious question for traders and central-bank modelers alike.