March Was Terrible For Stocks And Bonds, But It May Have Created The Opportunity Of The Year

Earnings growth is highlighted as the key driver, with the author expecting results could exceed ~12% annualized growth. March weakness was driven by geopolitical tensions that compressed market multiples, but underlying earnings remain resilient. The note reiterates a bullish stance on the US equity market despite near-term external shocks.

Analysis

Earnings growth is highlighted as the key driver, with the author expecting results could exceed ~12% annualized growth. March weakness was driven by geopolitical tensions that compressed market multiples, but underlying earnings remain resilient. The note reiterates a bullish stance on the US equity market despite near-term external shocks.