Growth Data Becomes Even More Important
Growth Data Becomes Even More Important: Tom Essaye Quoted in Barron’s
The Dow Had Its Biggest Drop Since 2023. It Was Almost Worse.
Sevens Report Research’s Tom Essaye told Barron’s in a phone interview that while the report didn’t show an uptick in inflation, it did dial back expectations for a market that’s been pricing in rate cuts sooner rather than later.
Essaye adds that Thursday’s growth data becomes even more important because the bullish thesis is built on a belief the central bank cuts rates and growth stays stable.
He notes recent data is starting to imply a leveling off after months of quick disinflation.
“I think now the focus then turns to growth,” Essaye says. “And if you get, all of a sudden, some disappointing growth numbers, now you’re going to have some stagflation worries, and you’re gonna see this thing unwind, I think, kind of quick.”
Also, click here to view the full Barron’s article published on February 13th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.
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