Wall Street’s soothsayers have rarely been so bewildered about what’s next

Bloomberg/Denitsa Tsekova, Carly Wanna and Lu Want/7-8-2023

“Up and down Wall Street, forecasters were caught flat-footed by how the first half of 2023 unfolded in financial markets. That seems to have rattled their faith in what the winning playbook for the rest of it should be.”

USAGOLD note: This is a generation of Wall Streeter’s that was taught not to fight the Fed almost as religious dogma. But a new wave of investors out in the financial hinterlands is fighting the Fed with unpredictable results.