caixabank research

Change of cycle to cyclical stocks to defensive

US Stock Market: Rational Exuberance?

CaixaBank Research (Adriá Morron and Alex Ruiz) | Since the lowest point recorded last March, the main index for the US equity has risen almost non-stop by around 70%. In recent weeks, this rally has also been accompanied by dynamics in certain US equity segments that are reminiscent of events followed by major stock market adjustments in the past. Is the US equity market decoupling from economic fundamentals?