The View from 5th Avenue

The View from 5th Avenue – 21 March 2024

Flight attendants – prepare for takeoff. We are again in flight and heading higher yet on impressive breadth after Captain Powell apparently provided a green light from the tower yesterday. All major indices saw follow-through strength today with the S&P clocking a 75% “up” day, and notably, the Russell leading the charge vs its larger cap index peers. As Americans, we are stereotypically a hopeful bunch, and thus, the soft-landing narrative has found itself front and center once again. A…

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