Veteran strateman Ed Yardeni, known for his bullish position forecasts in the market, this time has too much a different message.
Yardeni warned that U.S. actions are overvalued and could also face a surprise if COVID-1 nine times continue to rise and spread and tensions with China accelerate.
“Valuation is really a concern in the United States. It makes me wonder if it’s time to move globally during this bull market,” he said.
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He added: “In the most logical sense of that, we do not manage the opening of our economy and the social distance to reduce outbreaks of the virus, as is the case in some quantities of Asia and Europe.”
Yardeni warned of a “merger” of stocks starting this month.
Yardeni first planned a V-shaped recovery, but beyond this month he said he had reviewed it in a tick-shaped recovery.
But now Yardeni believes that those who revel in investing in U.S. stocks prepare for a sharp correction as COVID-1’s U.S. times increase and investors look for other opportunities around the world.
The United States surpassed its greater one-day disposition with more than 75,000 times reported on Thursday. As recently as June 24, the record is 37,014, and the record 11 times in the last month alone.
“We see giant states that reverse the reopening in their economies. So the perfect news we won in May and June on the economic front, adding even the unemployment figures, is vulnerable,” he said.
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The United States and China have been lagging behind who is to blame for the coronavirus outbreak for months and, more recently, the advent of a new security law in May increasing China’s control over Hong Kong.
In response, it passed the Hong Kong Autonomy Act, cutting off Hong Kong’s special industrial status. The United States and China have committed to imposing 50/1d sanctions on each other, setting a new low in industrial tensions between the two countries.