Market review 24.03.31

A focus on Industrials, plus revisiting the long-term view of markets

Hello everyone,

Q1 draws to a close.

At the end of Q4, I discussed a long-term scenario where commodity strength persists, rates remain elevated, and broad equity markets struggle. Today, I’ll briefly discuss a more likely scenario: Following recent multi-year breakouts, the equity bull market persists for years while the 40-year secular interest rate do…