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The Fork in the Road

Source: Picton Mahoney Asset Management
Publish Date: Jul 18, 2023
Read Time: 1 minute
Equities seem to be approaching a fork in the road. If a soft economic landing is in the cards, the rally we’ve seen thus far this year could continue. But signs of a recession could spoil the party, and our read of the data suggests a contraction is the more likely outcome at this point. Considering that valuations remain lofty and the U.S. Federal Reserve is still hawkish, we are cautious as the second half of 2023 begins.

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