Patience is a virtue, patience is a virtue – that’s the mantra running through our head as debt ceiling talks drone on and the Curtain of FUD (Fear, Uncertainty & Doubt) continues to obscure the prospects for the brighter future we envision.
The oscillating nature of economic data and cross asset market pricing has tried the patience of bull and bear alike.
The bulls have had to be content with roughly 10% gains ytd for global equities while the media drumbeat continues to hammer recession, rate hikes and the utility of cash - notwithstanding its weak relative performance YTD.
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