Chief Market Strategist Ellen Hazen, CFA, Discusses Markets on Bloomberg TV

November 29, 2022

Chief Market Strategist Ellen Hazen, CFA, appeared on Bloomberg TV to discuss her outlook for the Fed, global markets, and 2023 earnings.

Ellen commented….

“One of the biggest risks for the market going into 2023 is that the Fed tightens rates too drastically. The market is expecting the Fed will start cutting rates as early as the second quarter of 2023. We don’t think that’s going to happen. We expect the Fed to remain hawkish into next year.”

“The dollar looks overbought on a short-term basis which is why we are seeing some exhaling here. But over the next 6-12 months, we expect the dollar to remain quite strong.”

“Timing is everything. At some point it will make sense to look at emerging markets and developed international stocks but not yet. We feel market still has a lot of wood to chop, especially in Europe.”

“For three quarters now we have seen companies report lower operating leverage due to higher than expected labor and input costs. We expect this to continue for another few quarters and that earnings will be down next year.”

Watch the full segment here.


Disclosures

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