THE HEISENBERG writes:
“We have seen this before”, SocGen’s Andrew Lapthorne wrote on Monday, in a kind of pseudo-lament.
What is “this”, you ask?
Simple. “This” is equities rallying despite lackluster profit growth. That was a defining feature of 2019. By all indications, it will be a fixture in 2020 as well, although folks are penciling in a rebound in bottom line growth stateside.
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Source: The Loadstar