US Stocks ‘Astronomically Complacent' About Trade War, CLSA Says
US stock investors appear 'astronomically complacent' about the amount of damage the trade war will inflict on corporate earnings, according to CLSA's chief equity strategist.
For Alexander Redman, economic data show significant cause for concern about stock prices. US firms' capital-expenditure intentions have gone negative for only the fourth time this century; the University of Michigan consumer sentiment index is at a multi-decade low; and two-thirds of US households now believe the unemployment will be worse in 12 months' time.
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