You said we could have one last stand a Lot of people might be gripping to that Hope mate that we could get another Rally here Mike what would you need to See and what's the chances that it's Going to happen Yeah well look at me we you know we Called the rally in the fall from October to December based on the Following based on the community we Thought China was going to be reopening Which which it did and that would help Global growth story and rates were Probably peaking and they did they came Back down but now that's sort of Reversed right rates are are shooting Back up because you know the FED has More work to do on inflation and I would Argue the China story I think some of Your guests were just saying we agree With this this is a China store this is Not a global growth story so yes it's Very good for China equities and maybe Some Asian economies that can look in Gear off of that but not so much the U.S Stock market which isn't that geared to Trying to grow so in order for the Market for valuations to go up further Which is what we're talking about right In order for stocks to go higher it has To be valuation driven because the Earnings are going to be flat at Best in Terms of the trajectory that means Interest rates have to come back down
And the dollar or the dollar has to Weaken again substantially which you Know it's been stronger here more Recently as if it's been you know it's Signaling they're going to tighten Further so without those two Tailwinds I Think it's almost impossible to argue For higher valuations which means it's Very difficult to argue for higher stock Prices
