PIVOT history hints more downside: Nasdaq prints Deadcat bounce

The global stock market rally could be about to meet recession reality.

Fed Governor Chris Waller said Monday that markets had overestimated the significance of a single data point, and that the U.S. central bank still has “a ways to go” on interest rate hikes.

Several analysts have echoed that sentiment in recent days. BlackRock
Investment Institute said in a note Monday that labor constraints driving wage growth and core inflation may be more persistent than the market is pricing.