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Opinion

Market Euphoria Is Based on 3 Myths

Market Euphoria Is Based on 3 Myths
Traders work on the floor of the New York Stock Exchange on Nov. 15, 2023. Spencer Platt/Getty Images
Daniel Lacalle
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Commentary

The world equity markets ended November with their biggest monthly rally in three years. Optimism comes from better-than-expected inflation figures, expectations of central bank rate cuts, and general acceptance that earnings and economic growth will be weak but acceptable in 2024.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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