Credit Suisse Strategists Say Sell Bear Market Rally in Stocks
- Tactical indicators suggest scope for a bounce: Garthwaite
- Higher-than-normal earnings risk implies more stock declines
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With stock markets staging a strong rally, Credit Suisse Group AG strategists have a message for investors: sell into it.
A team led by Andrew Garthwaite said they remain cautious on equities as diminishing real money supply, elevated stock valuations and “extreme” risk to earnings all imply further declines before the market finds a bottom.