Market trends are generally heading up, and investors are feeling confident. The S&P 500 has gained 20% so far this year, and the NASDAQ has gained 15%; for now, it looks like the confidence is justified. The economy’s reopening is proceeding apace, and both investors and consumers are looking forward to a more normal 2022.
In a recent note for RBC, the firm’s head of US equity strategy, Lori Calvasina, acknowledges the optimism – and also points out the potential fly in the ointment….
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