Equity Investors Shrug Off Moody's Downgrade and Recessionary Leading Indicator

Complacency reigns in the equity market

Highlights

• Complacency reigns in the equity market

• Debt downgrade and tax cut disputes deepen U.S. fiscal turmoil

• Consumer sentiment measures hover near record-lows

• Housing in limbo as Treasury yields stay elevated

Key Takeaways

• Complacency Creeping In: “There’s an extraordinary amount of complacency. That’s my own view.” This little ditty was from Jamie Dimon yesterday and we share this concern. We would not be buying any dips at the moment.