Surveillance: Yardeni Eyes S&P at 4,800 as ‘Roaring ’20s’ Return
After nailing the October low, he’s upbeat about the road ahead
Wall Street’s risk-on mood is getting a boost from fresh signs of disinflation.
Photographer: Michael Nagle/BloombergThe bulls are having their day in the sun.
Not only have they reaped big returns this year, but the data is cooperating with the view that inflation can come down without a deep and damaging recession. Today we learned that US producer prices rose in June by the least since 2020, even as a measure of the labor market came in firmer than expected.